Foundation Re IV Ltd

US primary property and casualty insurer The Hartford is back in the catastrophe bond market for the first time since 2011, seeking a new $200 million source of multi-peril catastrophe reinsurance through sponsorship of a Foundation Re IV Ltd. (Series 2023-1) cat bond issuance.

We’ve learned that two catastrophe bond deals that were originally scheduled for issuance in the fourth-quarter of 2022 were delayed by their respective sponsors, as both were being cautious due to the uncertain market conditions and the level of execution risk that might have presented.