Argo Group’s latest catastrophe bond transaction, Loma Reinsurance (Bermuda) Ltd. (Series 2013-1), has grown in size again before closing we understand, with one tranche increasing by $7m taking the total cat bond size to $172m for Argo.
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The latest catastrophe bond from Argo Group, Loma Reinsurance (Bermuda) Ltd. (Series 2013-1), has increased in size by 65% to $165m and price guidance has dropped to below the initial range on all three tranches of notes being offered.
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Insurance and reinsurance company Argo Group is returning to the catastrophe bond market for what will be its third deal, seeking a four-year source of multi-peril reinsurance protection from the capital markets through Loma Reinsurance (Bermuda) Ltd. (Series 2013-1).
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