The first broadly marketed 144A catastrophe bond from Bermuda based reinsurer RenaissanceRe has now completed successfully, providing the reinsurer with a $150m source of multi-year retrocessional U.S. hurricane and earthquake reinsurance protection. Mona Lisa Re Ltd. (Series 2013-2) has now settled, received its full rating and listed in Bermuda.
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Bermudian reinsurer RenaissanceRe’s first broadly marketed 144A catastrophe bond, Mona Lisa Re Ltd. (Series 2013-2), has increased in size while marketing and the indicative interest spread pricing has moved to the middle of the range originally marketed. It’s not the first cat bond issued by Mona Lisa Re but it is the first broadly marketed […]
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Another new catastrophe bond transaction launched yesterday and this time it is a particularly interesting one as the sponsor for this cat bond is Bermuda reinsurer RenaissanceRe. This $125m deal is Mona Lisa Re Ltd. (Series 2013-2) and with this cat bond RenRe is looking to transfer some U.S. hurricane and earthquake risk to capital market […]
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