Quercus Re DAC

Groupama’s sponsorship of its latest catastrophe bond, the €120 million Quercus II Re DAC issuance, demonstrates the firm’s capacity for innovation and highlights the importance of partnerships across the insurance-linked securities (ILS) space, according to Pierre Lacoste, Reinsurance Director of Groupama Group.

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.

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.

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.

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.