Residential Re

US military mutual insurer USAA is now aiming to upsize its new catastrophe bond, with the revised target now being to secure between $800 million and as much as $825 million of reinsurance protection from the Residential Reinsurance 2026 Limited (Series 2026-1) issuance, Artemis has learned.

Kirby Wisian, a long-standing executive at USAA who has been instrumental in the primary military mutual insurers’ use of the insurance-linked securities (ILS) market and its regular Residential Reinsurance catastrophe bonds, is retiring from the company.