Mona Lisa Re Ltd. Series 2023-1

RenaissanceRe has increased the target size of its new industry-loss trigger Mona Lisa Re Ltd. (Series 2024-1) catastrophe bond for a second time, with $150 million of retrocessional protection now sought, while the price guidance has been fixed below the initially marketed range.

In another signal that catastrophe bond market conditions have once again become more balanced, RenaissanceRe has raised the target size for its new industry-loss trigger Mona Lisa Re Ltd. (Series 2024-1) cat bond to $125 million, while at the same time the price guidance has fallen.

RenaissanceRe, the Bermuda based reinsurance company and third-party capital manager, is back in the catastrophe bond market seeking $100 million or more in retrocessional protection from a Mona Lisa Re Ltd. (Series 2024-1) deal, for risks in its own portfolio and that of its flagship partner capital vehicle DaVinci Re.

Bermuda headquartered specialist reinsurer and third-party capital manager RenaissanceRe has now successfully secured $185 million of collateralized retrocessional reinsurance with its new Mona Lisa Re Ltd. (Series 2023-1) catastrophe bond, with the total falling just short of the maximum upsized target.

RenaissanceRe, the Bermuda based specialist reinsurance firm and third-party capital manager, has lifted the targeted size for its new Mona Lisa Re Ltd. (Series 2023-1) catastrophe bond to $200 million, while the pricing of each tranche of notes being issued looks set to come in within guidance.

Bermuda based specialist reinsurance firm and third-party capital manager RenaissanceRe has returned to the catastrophe bond market to sponsor a $150 million or greater Mona Lisa Re Ltd. (Series 2023-1) cat bond, to cover risks in its own portfolio and that of its flagship partner capital vehicle DaVinci Re.