Covéa Group has now successfully priced its new Hexagon III Re Pte. Ltd. (Series 2021-1) catastrophe bond transaction, but has only managed to secure €153 million of its original €200 million target of capital market backed reinsurance from the deal.
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Covéa Group, the French mutual insurance society, has had to reduce its target for the Hexagon III Re Pte. Ltd. (Series 2021-1) catastrophe bond transaction slightly, as pricing has diverged between the two tranches and the issuance is now said to be aiming to secure the company between €150 million and €190 million of reinsurance.
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Covéa Group, the French mutual insurance society, is back in the catastrophe bond market with a new Hexagon III Re Pte. Ltd. (Series 2021-1) transaction targeting €200 million of reinsurance from the capital markets to cover losses from some of its peak perils and with the deal being issued out of Singapore.
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