Hestia Re Ltd

Kin Insurance has now successfully secured its new Hestia Re Ltd. (Series 2023-1) catastrophe bond to provide $100 million of collateralized reinsurance protection and with spreads now finalised just over 11% below the initial mid-point of price guidance.

Kin Insurance has lowered the price guidance for its new Hestia Re Ltd. (Series 2023-1) catastrophe bond for the second time, with the direct-to-consumer insurtech now looking to settle the issuance with spreads roughly 10% below the initial mid-point of guidance.

Direct-to-consumer and fast-growing insurtech company Kin Insurance is aiming to reduce the pricing on its new catastrophe bond issuance, with the spread guidance dropping for its Hestia Re Ltd. (Series 2023-1) transaction.

Direct-to-consumer and fast-growing insurtech company Kin Insurance has returned to the catastrophe bond market to sponsor its second issuance, seeking $100 million or more in Florida named storm protection from a Hestia Re Ltd. (Series 2023-1) transaction.

Direct-to-consumer and fast-growing insurtech company Kin Insurance has revealed that it ceded around 97% of its gross losses from hurricanes Ian and Nicole in 2022 to its reinsurance capital partners.

Direct-to-consumer and fast-growing insurtech company Kin Insurance has detailed its current expectations for the impacts of hurricane Ian to its business, which suggests reinsurance recoveries are anticipated and that its Hestia Re Ltd. (Series 2022-1) catastrophe bond should be considered at-risk of triggering.

Kin Insurance’s debut $175 million Hestia Re Ltd. (Series 2022-1) catastrophe bond issuance is expected to be an “integral” component of the fast-growing insurtech’s reinsurance tower, according to its Chief Insurance Officer.

We’ve learned that direct-to-consumer and fast-growing insurtech Kin bolstered the surplus capital of its main carrier operating in Florida by $20 million in order to meet Demotech’s requirements for its rating affirmation recently.

Direct-to-consumer and fast-growing insurtech Kin Insurance has now priced its debut Hestia Re Ltd. (Series 2022-1) catastrophe bond issuance at a size of $175 million, with the coupon investors will receive finalised at the top-end of initial guidance.

Direct-to-consumer and fast-growing insurtech Kin Insurance is aiming to upsize its first catastrophe bond issuance, with its target for the Hestia Re Ltd. (Series 2022-1) issuance now set between $150 million and as much as $200 million of Florida hurricane reinsurance protection.