Herbie Re Ltd

With Fidelis Insurance Group having recently settled its eighth Herbie Re catastrophe bond issuance, Ian Houston, Chief Underwriting Officer explained that the transaction delivers “substantial capital efficiency” and provides broad protection to The Fidelis Partnership MGU businesses as well.

Fidelis Insurance has now secured the targeted $75 million in US earthquake retrocessional reinsurance on a collateralized basis through its new Herbie Re Ltd. (Series 2026-1)  catastrophe bond, as the notes have now been priced with the spread finalised within the lower-half of initial guidance, Artemis has learned.

Fidelis Insurance is back in the catastrophe bond market, aiming to secure $75 million or more in US earthquake retrocessional reinsurance on a collateralized basis through sponsorship of a Herbie Re Ltd. (Series 2026-1)  cat bond, Artemis has learned.

Having recently secured its upsized target of $90 million of worldwide aggregate retrocession through the new Herbie Re Ltd. (Series 2025-1)  catastrophe bond issuance, senior executives of Fidelis Insurance and managing general underwriter (MGU) Fidelis Partnership have hailed the beneficial protection and capital support it provides.

Fidelis Insurance has now secured its upsized target of $90 million of worldwide aggregate retrocession through the new Herbie Re Ltd. (Series 2025-1)  catastrophe bond issuance, while the notes have now been priced at the low-end of initial guidance, Artemis can report.

Fidelis Insurance has raised the target size for its new catastrophe bond to provide $90 million of worldwide aggregate retrocession through the Herbie Re Ltd. (Series 2025-1)  issuance, while the price guidance for the notes has been updated at the low-end of guidance, Artemis has learned.

Fidelis Insurance has returned to the catastrophe bond market with an initial $75 million target to renew one of its maturing and also recently loss-affected sources of worldwide aggregate retrocession through a Herbie Re Ltd. (Series 2025-1)  cat bond issuance, Artemis has learned.

Fidelis is set to benefit from a roughly $98 million additional retrocessional reinsurance recovery from its aggregate industry-index trigger Herbie Re Ltd. (Series 2021-1) catastrophe bond, as losses from the California wildfires, added to those from hurricanes Helene and Milton earlier in the risk period, have eaten into the remaining principal of these notes.

Having recently secured its biggest catastrophe bond to-date, Fidelis’ new $375 million Herbie Re Ltd. (Series 2024-2) issuance enhances its reinsurance arrangements and supports the managing general underwriter (MGU) Fidelis Partnership to capitalise on catastrophe-exposed business opportunities, executives have said.

Fidelis Insurance has now secured its biggest catastrophe bond issuance, as the $375 million of Herbie Re Ltd. (Series 2024-2) notes have now been priced to provide the company multi-peril annual aggregate retrocessional reinsurance protection.