Hestia Re Ltd

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.

Direct-to-consumer and fast-growing insurtech Kin Insurance is entering the catastrophe bond market for the first time, seeking $100 million of Florida hurricane reinsurance protection with a Hestia Re Ltd. (Series 2022-1) issuance.