Power Protective Re Ltd. Series 2020-1

The first ever parametric solely wildfire exposed catastrophe bond to hit the market, the $50 million Power Protective Re Ltd. (Series 2020-1)  transaction being sponsored on behalf of a municipal water and electricity utility operating in the Los Angeles area, has seen its pricing move up by around 9% before it closed.

An intriguing new catastrophe bond transaction has launched to the market according to our sources, with the $50 million Power Protective Re Ltd. (Series 2020-1)  transaction being sponsored on behalf of a municipal water and electricity utility operating in the Los Angeles area of California that is seeking wildfire insurance protection.