Mystic Re IV Ltd

Liberty Mutual Insurance’s sponsorship of a $150 million Mystic Re IV Ltd. (Series 2026-1) catastrophe bond issuance underscores the strength of Howden Capital Markets & Advisory’s (HCMAs) platform and its ability to execute complex transactions efficiently, according to Jarad Madea, CEO, HCMA.

Liberty Mutual Insurance has now secured an upsized $150 million of catastrophe reinsurance limit from its new Mystic Re IV Ltd. (Series 2026-1) catastrophe bond, while the two tranches of notes being placed have both been priced below their mid-points of guidance, Artemis understands.

Liberty Mutual Insurance has adjusted its target for its latest catastrophe bond sponsorship, with now between $120 million and $150 million of catastrophe reinsurance limit sought from the Mystic Re IV Ltd. (Series 2026-1) issuance, while the riskiest tranche of notes has been dropped from the offering, Artemis has learned.

Liberty Mutual Insurance is back in the catastrophe bond market aiming to secure at least $125 million of indemnity based, multi-peril catastrophe reinsurance protection from the capital markets through a Mystic Re IV Ltd. (Series 2026-1) issuance, Artemis has learned.

Liberty Mutual has now secured the upsized target of $325 million of fully collateralized reinsurance protection through its new Mystic Re IV Ltd. (Series 2025-1) catastrophe bond, while the insurer benefited from high investor demand and strong cat bond execution to price the deal largely below initial guidance.

Pricing has tightened further for two of the tranches of notes being issued as part of Liberty Mutual’s new Mystic Re IV Ltd. (Series 2025-1) catastrophe bond, as the insurer looks set to be another to benefit from strong investor demand and strong cat bond execution in the primary market.

Having come to market with one unsized tranche of notes, Liberty Mutual’s new Mystic Re IV Ltd. (Series 2025-1) catastrophe bond issuance has now been fully-sized, with a target set for $325 million of indemnity reinsurance on both an occurrence and aggregate basis, Artemis understands.

Liberty Mutual Insurance has returned to the catastrophe bond market with a target to secure at least $225 million of indemnity based catastrophe reinsurance protection from the capital markets through a Mystic Re IV Ltd. (Series 2025-1) issuance.

Insurance firm Liberty Mutual has now successfully secured the upsized $300 million of reinsurance from its new Mystic Re IV Ltd. (Series 2024-1) industry-loss triggered catastrophe bond and the notes have now been priced below the initial guidance, we’re told.

Insurer Liberty Mutual has raised its target size for its new Mystic Re IV Ltd. (Series 2024-1) industry-loss triggered catastrophe bond, with now $300 million of reinsurance sought from the issuance.