Locke Tavern Re Ltd Series 2023-1

The Andover Companies, a large mutual insurance group in the Northeast US, has now priced its debut Locke Tavern Re Ltd. (Series 2023-1) catastrophe bond issuance at the top-end of the target size range of $175 million, while also securing below guidance pricing for the coverage.

The Andover Companies, a large mutual insurance group in the Northeast US, is seeking even more favourable execution for its debut Locke Tavern Re Ltd. (Series 2023-1) catastrophe bond issuance, with the size target narrowed towards the upper-end, while a second update to spread guidance suggests a ~17% price drop is possible.

The Andover Companies, a large mutual insurance group in the Northeast US, has increased the target size for its debut Locke Tavern Re Ltd. (Series 2023-1) catastrophe bond issuance, with now up to $175 million of reinsurance sought from the deal.

The Andover Companies, one of the largest and longest-standing mutual insurance groups in the Northeast US, has entered the catastrophe bond market for the first time, seeking $125 million or more in collateralized catastrophe reinsurance from a Locke Tavern Re Ltd. (Series 2023-1) issuance.