Mona Lisa Re Ltd. Series 2021-1

RenaissanceRe has now secured its 67% upsized new Mona Lisa Re Ltd. (Series 2021-1) catastrophe bond transaction at $250 million in size, while the coupon has now been fixed at the lowest-end of reduced price guidance.

RenaissanceRe is targeting an increased issuance size for its latest catastrophe bond, with the company now seeking 67% more multi-peril reinsurance protection from the new Mona Lisa Re Ltd. (Series 2021-1) transaction, at reduced pricing compared to initial guidance.

Bermuda-headquartered global reinsurer RenaissanceRe is back in the catastrophe bond market to add to its collateralized retrocession from ILS investors, with a new Mona Lisa Re Ltd. (Series 2021-1) transaction seeking $150 million or more of multi-peril protection.