Ibis Re II Ltd Series 2013-1

Multi-year traditional and fully-collateralized protection has grown as a percentage of the reinsurance program of U.S. specialty insurance group Assurant, as the insurer seeks to reduce its financial exposure to catastrophic losses caused by severe weather events.

Catastrophe bonds and collateralized reinsurance are both growing components of the reinsurance program of U.S. specialty insurance group Assurant, helping the insurer both diversify and expand its reinsurance coverage by 20% this year. The recent completion of the insurers $185m Ibis Re II Ltd. (Series 2013-1) cat bond has helped in this expansion.

U.S. specialty insurance group Assurant has now successfully completed its fourth catastrophe bond with the $185m Ibis Re II Ltd. (Series 2013-1) deal. The completion of the deal has secured Assurant subsidiaries a multi-year source of collateralized U.S. hurricane reinsurance protection.

The Ibis Re II Ltd. (Series 2013-1) catastrophe bond, the fourth cat bond from U.S. specialty insurer Assurant, has increased slightly in size and the price guidance has dropped on two of the tranches of notes that are being offered. Interestingly the pricing on the lowest risk tranche of notes has moved up to the […]

The latest catastrophe bond from U.S. specialty insurer Assurant has now received its preliminary rating and a pre-sale report has been published, which means we have more information on the transaction to share. Ibis Re II Ltd. (Series 2013-1) is Assurant’s fourth cat bond to be issued under an Ibis Re named vehicle.

U.S. specialty insurer Assurant is returning to the catastrophe bond market for what will be its fourth issuance under an Ibis Re named issuer, we understand. The transaction, Ibis Re II Ltd. (Series 2013-1) sees Assurant hoping to secure a multi-year source of fully-collateralized U.S. hurricane protection for certain named subsidiary companies.