Recoletos Re DAC

Spanish global reinsurer Mapfre Re’s sponsorship of its third and largest catastrophe bond yet, the $200 million Recoletos Re DAC (Series 2026-1) issuance, underscores the company’s disciplined approach to risk management, as well as its commitment to securing well-aligned protection for Mapfre Group, Miguel Rosa, CEO of Mapfre Re has said.

Mapfre Re, the Spanish global reinsurance company, has now successfully secured $200 million of US named storm protection from the capital markets through its Recoletos Re DAC (Series 2026-1) catastrophe bond issuance, pricing the notes at the lowest end of initial guidance, Artemis can report.

Mapfre Re, the Spanish global reinsurance company, is now aiming for reduced pricing for its latest catastrophe bond sponsorship, with the still $200 million Recoletos Re DAC (Series 2026-1) US named storm issuance cat bond transaction now seeing its price target reduced to the low-end of guidance, Artemis can report.

Mapfre Re, the Spanish global reinsurance company, is back in the catastrophe bond market to sponsor its third deal, seeking $200 million or more in US named storm protection from a Recoletos Re DAC (Series 2026-1) issuance, Artemis can report.

Mapfre Re’s second successful sponsorship of a 144A catastrophe bond and the fact the Recoletos Re DAC (Series 2025-1) deal upsized to provide €125 million of annual aggregate European windstorm retrocession demonstrates the cat bond market’s confidence in the reinsurance company, CEO Miguel Rosa said this morning.

Mapfre Re has successfully priced its second 144A catastrophe bond, securing the upsized €125 million of annual aggregate European windstorm retrocession through the Recoletos Re DAC (Series 2025-1) issuance, while the spread was finalised at the low-end of reduced guidance, Artemis understands.

Spain headquartered global reinsurance company Mapfre Re has returned to the catastrophe bond market for its second visit, looking to secure €125 million in annual aggregate European windstorm retrocession deal through its second Recoletos Re DAC (Series 2025-1) issuance, Artemis has learned.

Mapfre Re, the global reinsurance company headquartered in Spain, has said it is “very satisfied” with securing its debut catastrophe bond, the Recoletos Re DAC (Series 2024-1) issuance, saying that the deal was positively received by the capital markets.

Mapfre Re has now successfully priced its debut catastrophe bond, with the Recoletos Re DAC (Series 2024-1) issuance now secured to provide the reinsurance company with an upsized $125 million of retrocession, with the notes priced below the initial guidance range that had been offered.

Mapfre Re has increased the target size for the amount of retrocessional reinsurance it hopes to secure from its debut catastrophe bond sponsorship, with the Recoletos Re DAC (Series 2024-1) issuance now aimed for $125m, while at the same time the price guidance has been lowered.