PoleStar Re Ltd. Series 2024-1

Having recently completed the issuance of its debut 144A cyber catastrophe bond issuance, the $140 million PoleStar Re Ltd. (Series 2024-1) deal, Beazley now intends to keep scaling its presence in the cyber insurance-linked securities (ILS) market, Paul Bantick, Global Head of Cyber at the company said today.

Beazley has now successfully priced its debut 144A cyber catastrophe bond issuance, with the PoleStar Re Ltd. (Series 2024-1) deal confirmed to provide the company with $140 million of cyber reinsurance, while the notes priced within but at the top-end of initial guidance.

Beazley has for a second time increased the target size of its debut 144A cyber catastrophe bond issuance, with the PoleStar Re Ltd. (Series 2024-1) deal now aimed to secure $140 million of cyber reinsurance for the company.

Beazley, the London headquartered specialty insurance and reinsurance underwriter, is aiming to significantly increase the size of its debut 144A cyber catastrophe bond issuance,  with the PoleStar Re Ltd. (Series 2024-1) now targeted to secure the company $130 million of cyber reinsurance, a 73% upsizing from the initial offering size.

Beazley, the London headquartered specialty insurance and reinsurance underwriter, has now entered the 144A catastrophe bond market with its first cyber deal, seeking $75 million in reinsurance from this PoleStar Re Ltd. (Series 2024-1) cyber cat bond issuance, Artemis can report.