Home insurtech Hippo has hailed the completion of its subsidiary Spinnaker Insurance Company’s debut Mountain Re Ltd. (Series 2023-1) catastrophe bond, saying the cat bond provides “economically efficient” reinsurance, as well as access to the capital markets.
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Spinnaker Insurance Company has now secured $110 million of multi-year and collateralized reinsurance from the capital markets as its debut Mountain Re Ltd. (Series 2023-1) catastrophe bond issuance has now been priced.
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Spinnaker Insurance Company, the personal and commercial lines program and fronting specialist, is progressing its debut catastrophe bond issuance and the target size for the market for Mountain Re Ltd. (Series 2023-1) issuance has increased slightly to $125 million, we’re told.
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Spinnaker Insurance Company, a personal and commercial lines program and fronting specialist, has entered the catastrophe bond market for the first time, seeking $100 million or more in US multi-peril collateralized reinsurance from a Mountain Re Ltd. (Series 2023-1) issuance.
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