The structuring of the recent $300 million Galileo Re Ltd. (Series 2016-1) international multi-peril catastrophe bond, sponsored by XL Insurance (Bermuda) Ltd. helped to facilitate investor demand, according to GC Securities Cory Anger.
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ILS investors subscribing to allocate capital to the $300m Galileo Re Ltd. (Series 2016-1) international multi-peril catastrophe bond issuance from XL have given a clear signal that the appetite for higher-yielding notes is strong.
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In a clear demonstration of investor appetite for higher-yielding catastrophe bond notes, the price guidance on all three tranches of the $300m Galileo Re Ltd. (Series 2016-1) international multi-peril cat bond issuance from XL has dropped to below the lower-end of the initial range.
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The first catastrophe bond to be launched to the ILS investor market in 2016 is a $300 million or greater Galileo Re Ltd. (Series 2016-1) international multi-peril issuance which is being sponsored by XL Insurance (Bermuda) Ltd.
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