Frontline re Ltd. (Series 2018-1)

The $350 million Frontline Re Ltd. (Series 2018-1) catastrophe bond transaction, that was sponsored by U.S. primary insurer Frontline Insurance in 2018, has seen one tranche trade at almost rock-bottom pricing on the threat of losses from hurricane Michael hitting the attachment point.

The recently completed $350 million Frontline Re Ltd. (Series 2018-1) catastrophe bond transaction, which benefits cedant Frontline Insurance, was the largest cat bond sponsored by a Florida insurer since 2014 and was well-received by investors, the structurer Swiss Re said.

The debut catastrophe bond issuance from U.S. primary insurer Frontline Insurance continues to proceed to market, with the pricing now fixed for the two tranches of notes that make up the $350 million Frontline Re Ltd. (Series 2018-1) transaction.

U.S. primary insurer Frontline Insurance, which has a significant coastal focus within its portfolio, is to tap the capital markets as a source of reinsurance through its first catastrophe bond issue, as the insurer sponsors a $350 million Frontline Re Ltd. (Series 2018-1) transaction.