Randolph Re

Mercury Insurance has now recovered $20.05 million from its Randolph Re (Series 2024-1) private catastrophe bond transaction, after losses from the January 2025 wildfires in California exceeded the attachment and eroded some of its principal, Artemis has learned.

Back on July 10th we reported on a new $45.5 million Randolph Re (Series 2024-1) private catastrophe bond that appeared to be a renewal of a wildfire transaction for Mercury Insurance and for the first time Aon had used its Guernsey based protected cell company White Rock Insurance Company PCC Limited for the issuance.

Broking giant Aon has facilitated the issuance of a new $45.5 million Randolph Re (Series 2024-1) private catastrophe bond that we believe could be a renewal of its wildfire deal for Mercury Insurance, but this time it has been issued out of Guernsey using the firm’s protected cell company White Rock Insurance Company PCC Limited.

Aon’s private catastrophe bond platform Randolph Re has completed a new issuance of $45 million of Randolph Re (Series 2023-3) private cat bond notes that are exposed to wildfire risks, for an unnamed sponsor that we assume will again be California headquartered property casualty insurer Mercury Insurance.

Randolph Re, insurance and reinsurance broker Aon’s private catastrophe bond issuance and placement platform, has completed a EUR 100 million private cat bond transaction, Randolph Re (Groupama), for Paris headquartered insurer Groupama.

Aon’s private catastrophe bond issuance and placement platform Randolph Re has completed a $25 million Randolph Re (Series 2022-1) private cat bond deal, the third from the issuer and we suspect again for California headquartered property casualty insurer Mercury Insurance.

Mercury Insurance, a California headquartered property casualty insurer, has secured $50.7 million of California wildfire reinsurance protection through a Randolph Re (Series 2021-1) private catastrophe bond issued using Aon’s platform.

A $50.25 million private catastrophe bond transaction has been issued around the July renewal by broker Aon’s private catastrophe bond issuance and placement platform Randolph Re.