Kilimanjaro II Re Ltd Series 2024-1

Everest Re has has now settled for $200 million in multi-peril per-occurrence retrocessional reinsurance from its new Kilimanjaro II Re Ltd. (Series 2024-1) catastrophe bond, securing that coverage at reduced pricing as the spreads settled well-below guidance, Artemis has learned.

Signals that catastrophe bond market pricing has stabilised continue, as Everest Re has lifted the target size and lowered the pricing for its new catastrophe bond, with now up to $225 million in multi-peril per-occurrence retrocession sought from the Kilimanjaro II Re Ltd. (Series 2024-1) issuance, Artemis has learned.

Everest Re, the global reinsurance arm of Everest Group, has returned to the catastrophe bond market in search of $150 million or more in multi-peril per-occurrence retrocession, through a Kilimanjaro II Re Ltd. (Series 2024-1) issuance, Artemis has learned.