Sponsors GeoVera and SafePort have settled for $200 million of US named storm reinsurance protection from the new Meritage Re Ltd. (Series 2026-1) catastrophe bond, opting not to upsize the offering, but securing the coverage at lower pricing, Artemis can report.
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The target issuance size has been raised for the new Meritage Re Ltd. (Series 2026-1) catastrophe bond, with now up to $250 million of multi-year US named storm reinsurance protection being sought for GeoVera and SafePort, Artemis can report.
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A new catastrophe bond is in the market that targets coverage for entities linked to MGU SageSure, with $200 million or more in US named storm reinsurance protection being sought for GeoVera and SafePort from this Meritage Re Ltd. (Series 2026-1) issuance, Artemis has learned.
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