Fuchsia 2024-1

Beazley has secured what will become its largest natural catastrophe bond yet, as the company successfully priced the notes from its new London Bridge 2 PCC Limited (Fuchsia 2 – 2024-1) deal to provide it with the one-third upsized target of $200 million of reinsurance protection, Artemis has learned.

Beazley, the London headquartered specialty insurance and reinsurance underwriter, is now looking to upsize its second natural catastrophe bond, with the London Bridge 2 PCC Limited (Fuchsia 2 – 2024-1) deal now targeted to provide $200 million of protection to the company.

Beazley, the London headquartered specialty insurance and reinsurance underwriter, is back in the cat bond market with a $150 million target for what will be its second natural catastrophe bond, again using the Lloyd’s owned ILS structure to issue this London Bridge 2 PCC Limited (Fuchsia 2 – 2024-1) deal.