RenaissanceRe, the Bermuda-headquartered global reinsurance firm and third-party capital manager, has settled for a 60% upsizing of its latest catastrophe bond, with the Mona Lisa Re Ltd. (Series 2020-1) cat bond transaction now priced at $400 million in size.
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Bermuda-headquartered global reinsurance firm RenaissanceRe has raised the target size for its new Mona Lisa Re Ltd. (Series 2020-1) catastrophe bond transaction by 80%, with the issuance now aiming to secure up to $450 million of retrocession for the company.
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Bermuda-headquartered global reinsurance firm RenaissanceRe is returning to the catastrophe bond market for the first time since 2013, with a $250 million or larger Mona Lisa Re Ltd. (Series 2020-1) transaction, a clear sign that retro market conditions are making cat bond coverage more attractive to sponsors.
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