Ocelot Re Ltd

Hiscox Group has now successfully secured the targeted $200 million of retrocessional North American peak peril reinsurance protection from its Ocelot Re Ltd. (Series 2025-1) catastrophe bond transaction, with one tranche of notes priced at the mid of initial guidance, while the second priced at the low-end of reduced guidance, Artemis has learned.

The new Ocelot Re Ltd. (Series 2025-1) catastrophe bond transaction that is being sponsored by Hiscox Group has seen its price guidance dropped during the marketing phase of the issuance, as investors demonstrate their appetite for risk from respected sponsors.

Hiscox Group is back in the catastrophe bond market seeking $200 million in retrocessional North American peak peril reinsurance protection from the capital markets with an Ocelot Re Ltd. (Series 2025-1) issuance, Artemis can report.

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.