Long Point Re III Ltd Series 2015-1

The latest catastrophe bond issue from U.S. primary insurer Travelers, Long Point Re III Ltd. (Series 2015-1), has upsized by 50% to reach $300m, while the pricing eventually settled at the mid-point of launch guidance.

U.S. primary insurer Travelers’ latest catastrophe bond transaction, Long Point Re III Ltd. (Series 2015-1), is set to upsize to as much as $300m, according to sources, while the price guidance has been narrowed towards the upper end of the range.

U.S. primary insurer Travelers is back in the catastrophe bond market for the first time in two years with a $200m Long Point Re III Ltd. (Series 2015-1) deal, seeking fully-collateralized reinsurance coverage for multiple U.S. perils.