Gator Re Ltd

One of this year’s first time catastrophe bond sponsors, Florida-headquartered primary American Strategic Insurance, has reported that slowly mounting catastrophe losses are now rising towards the attachment point of its Gator Re Ltd. cat bond.

Florida-headquartered U.S. insurance group American Strategic Insurance is pleased with the successful completion of its first catastrophe bond, the $200m Gator Re Ltd., and looks forward to developing its relationship with insurance linked investors.

The $200m Gator Re Ltd. notes from first time catastrophe bond sponsor American Strategic Insurance Group have now priced at the bottom end of the already reduced range, Artemis understands.

First time catastrophe bond sponsor American Strategic Insurance Group is set to enjoy the attractive cat bond issuance and rate environment as its Gator Re Ltd. cat bond upsizes to $200m while price guidance was lowered to below the initial range.

A catastrophe bond transaction, named Gator Re Ltd., has launched on behalf of sponsoring insurer American Strategic Insurance Group as it seeks to tap the capital markets for a source of reinsurance protection  through a cat bond for the first time.