MMIFS Re Ltd Series 2025-1

After securing its debut catastrophe bond, the $150 million MMIFS Re Ltd. (Series 2025-1) issuance in January, TD Insurance is signalling a long-term commitment to the cat bond market as the company is looking ahead to future issuances as part of a broader reinsurance strategy, according to President and CEO, James Russell.

With TD Insurance (TDI) successfully sponsoring the first catastrophe bond covering only perils in Canada this year, the debut issuance from the organisation could potentially make cat bonds more attractive to other Canadian insurers in the future, according to analysts at Morningstar DBRS.

The successful issuance of its debut catastrophe bond, the C$150 million MMIFS Re Ltd. (Series 2025-1) deal, helps to ensure that sponsor TD Insurance can be there for its customers “when it matters most”, President and CEO James Russell has said.

TD Insurance, part of Canada’s TD Bank group, has now priced its debut MMIFS Re Ltd. (Series 2025-1) catastrophe bond deal, with the notes finalised to pay investors a risk spread at the bottom end of already reduced guidance, Artemis has learned.

TD Insurance, part of Canada’s TD Bank group, is now aiming to reduce the pricing for its debut MMIFS Re Ltd. (Series 2025-1) catastrophe bond deal, with the price guidance having fallen for the issuance that targets C$150 million in reinsurance from the capital markets for the company, Artemis can report.

TD Insurance, part of Canada’s TD Bank group, is seeking C$150 million in reinsurance from the capital markets through its debut MMIFS Re Ltd. (Series 2025-1) catastrophe bond deal, which would be the first natural cat bond to solely cover perils in that country, Artemis has learned.