resident

Some of the loss hit catastrophe bonds sponsored by U.S. primary mutual insurer USAA have benefited from a return of principal with respect to previously made loss payments under certain reinsurance agreements, presumably a sign of wildfire related subrogation recoveries flowing to the benefit of cat bond funds and investors.

U.S. primary mutual insurer USAA has benefited from another almost $48.8 million of reinsurance recoveries under two of its outstanding and extended Residential Re catastrophe bonds, while also releasing a significant chunk of retained collateral back to investors as well.