Following the closure of the new Meritage Re Ltd. (Series 2026-1) catastrophe bond by entities linked to MGU SageSure, John Forney, President and CEO of GeoVera Nova, one of the sponsors of the issuance, has expressed gratitude for the strong investor response that the cat bond received from the insurance-linked securities (ILS) market.
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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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