The targeted issuance size for the Massachusetts Property Insurance Underwriting Association (MPIUA) latest catastrophe bond Cranberry Re Ltd. (Series 2017-1) has risen again to $350 million, while at the same time the price guidance has dropped to the bottom of the originally marketed range.
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The latest catastrophe bond to be sponsored by the Massachusetts Property Insurance Underwriting Association (MPIUA) looks set to increase in size, with the target size for the Cranberry Re Ltd. (Series 2017-1) deal now having been lifted to between $250 million and as much as $300 million.
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A new catastrophe bond has been launched for the Massachusetts Property Insurance Underwriting Association (MPIUA), with Hannover Re acting as sponsor through its Hannover Rück SE entity. The Cranberry Re Ltd. (Series 2017-1) issuance targets a $250 million source of reinsurance for the MPIUA.
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