Hexagon IV Re Ltd. Series 2023-1

French mutual insurer Covéa Group has now finalised its new Hexagon IV Re Ltd. (Series 2023-1) catastrophe bond at the upsized target for €145 million in collateralized windstorm reinsurance, while the pricing settled at the raised levels we had previously reported, we have learned.

French mutual insurer Covéa Group has lifted the target size for its latest catastrophe bond, now seeking €145 million in collateralized windstorm reinsurance from this Hexagon IV Re Ltd. (Series 2023-1) issuance, but the pricing has risen, most significantly for the riskier tranche of notes that are on offer.

French mutual insurer Covéa Group is back in the catastrophe bond market with its fourth catastrophe bond deal, seeking €100 million or greater in fully-collateralized windstorm reinsurance protection from the capital markets with this Hexagon IV Re Ltd. (Series 2023-1) issuance.