Fish Pond Re Ltd

First-time catastrophe bond sponsor the Texas Farm Bureau Insurance Companies has secured a strong result with its debut catastrophe bond issuance Fish Pond Re Ltd. (Series 2024-1), Artemis understands, with the upsized target for $255 million of reinsurance achieved and pricing finalised at the bottom of guidance.

First-time catastrophe bond sponsor the Texas Farm Bureau Insurance Companies is now seeking an upsized up to $255 million of named storm reinsurance through its Fish Pond Re Ltd. (Series 2024-1) cat bond issuance, Artemis understands.

Another first-time sponsor has entered the catastrophe bond market and it is the second farm bureau sponsor of recent weeks, with the Texas Farm Bureau Insurance Companies seeking a $200 million source of named storm reinsurance through a Fish Pond Re Ltd. (Series 2024-1) issuance.