Ocelot Re Ltd. Series 2023-1

Hiscox Group has now successfully secured its first catastrophe bond in over two decades upsized by 25% to provide $125 million in reinsurance cover, while the Ocelot Re Ltd. (Series 2023-1) cat bond notes priced around 10% below the mid-point of initial guidance.

Hiscox Group is now aiming to upsize its first catastrophe bond in more than two decades by 25% to provide it $125 million in peak peril aggregate retrocessional reinsurance cover, while the company is also hoping to secure the Ocelot Re Ltd. (Series 2023-1) cat bond at reduced pricing.

Hiscox Group is sponsoring its first catastrophe bond in more than two decades, seeking $100 million or more in peak peril aggregate retrocessional reinsurance from the capital markets through an Ocelot Re Ltd. (Series 2023-1) issuance.