Espada Reinsurance Limited

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USAA makes further $10m ResRe cat bond recovery. Extends further

U.S. primary mutual insurer USAA appears to have made another reinsurance recovery under one of its Residential Re catastrophe bond programs, while other ResRe tranches have had their maturity extended further again.We explained recently that USAA had begun to benefit from some reinsurance recoveries under its cat bonds, as it read the full article →

USAA makes some ResRe & Espada Re cat bond recoveries. Extends further

U.S. primary mutual insurer USAA has made a number of reinsurance recoveries under its catastrophe bond programs it appears, reducing the principal outstanding on a number of tranches of both in-force and maturity extended cat bonds in the Residential Reinsurance series and its Espada Reinsurance deals.Two of USAA's still in-force read the full article →

USAA’s Espada Re to secure $50m of reinsurance at top-end of pricing

U.S. military mutual insurer USAA's new catastrophe bond, the Espada Reinsurance Limited (Series 2016-1) transaction, is set to complete at the lower end of the insurers volume ambitions, securing just $50m of reinsurance, while the pricing has been set at the top-end of guidance.The Espada Re 2016-1 catastrophe bond saw read the full article →

Espada Re 2016-1 cat bond sees USAA looking for broader protection

U.S. military mutual insurer USAA has returned to the catastrophe bond market with a new issuance vehicle and different approach, as it seeks a source of broad multi-year and peril reinsurance protection from the capital markets through an Espada Reinsurance Limited (Series 2016-1) transaction.This marks the first time USAA has read the full article →