Groupama said today that it is delighted with the investor support received for its new Quercus Re DAC 2024-1 catastrophe bond issuance, while it notes that the €150 million of windstorm reinsurance secured represents the largest aggregate cat bond on-record covering European perils.
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Groupama has now secured its targeted €150 million of multi-year and fully-collateralized windstorm reinsurance protection from the new Quercus Re DAC 2024-1 catastrophe bond issuance, while the coverage has been secured at reduced pricing, as the notes priced at the lower end of initial guidance, Artemis has learned.
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We understand that the price guidance for French mutual insurance and reinsurance company Groupama’s new €150 million windstorm reinsurance focused Quercus Re DAC 2024-1 catastrophe bond has been narrowed towards the lower end.
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Groupama, the French mutual insurance and reinsurance company, is back in the 144A catastrophe bond market for the first time since 2013, seeking €150 million in windstorm reinsurance protection from the capital markets through a Quercus Re DAC 2024-1 catastrophe bond issuance, Artemis has learned.
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