The recently completed $150 million Gateway Re Ltd. (Series 2022-1) debut catastrophe bond transaction from SURE, or the SureChoice Underwriters Reciprocal Exchange, is seen as an “essential” piece of the reinsurance tower and a complement to traditional coverage, according to SURE President Ed Konar.
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The first catastrophe bond to be sponsored by coastal property insurance underwriter SURE, or the SureChoice Underwriters Reciprocal Exchange, has now been priced and the company secured its initial target for $150 million of reinsurance from the Gateway Re Ltd. (Series 2022-1) transaction, but the coupon moved to the upper-end of guidance.
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Coastal property insurance underwriter SURE, or the SureChoice Underwriters Reciprocal Exchange, is seeking its debut catastrophe bond, with a new $150 million US wind focused Gateway Re Ltd. (Series 2022-1) transaction now launched to investors.
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