Residential Reinsurance 2014 Ltd. (Series 2014-1)

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USAA makes some ResRe & Espada Re cat bond recoveries. Extends further

U.S. primary mutual insurer USAA has made a number of reinsurance recoveries under its catastrophe bond programs it appears, reducing the principal outstanding on a number of tranches of both in-force and maturity extended cat bonds in the Residential Reinsurance series and its Espada Reinsurance deals.Two of USAA's still in-force read the full article →

USAA further extends maturity on two tranches of Residential Re cat bonds

U.S. primary military mutual insurer USAA has further extended the maturity date for two of its at-risk of loss tranches of Residential Re (ResRe) catastrophe bond notes.A number of tranches of USAA's catastrophe bonds under its Residential Reinsurance programs have been extended to allow for continued development of losses from read the full article →

USAA puts another ResRe cat bond on watch list, extends others

U.S. primary military mutual insurer USAA has added another of its catastrophe bonds to the list of those considered at-risk of facing losses, extending the maturity on the $55 million per-occurrence Class 1 tranche of its Residential Reinsurance 2017 Ltd. (Series 2017-2) transaction.The move suggests that USAA is holding this read the full article →

USAA to repay $20m of extended ResRe cat bond as loss picture improves

USAA is moving a little closer to understanding just how big a recovery it can make from ILS investors against the reinsurance provided by its Residential Re catastrophe bond series, now opting to repay $20 million of the extended notes to investors, but still holding onto $150 million more with read the full article →

USAA extends maturity on $170m of notes across three ResRe cat bonds

U.S. primary military mutual insurer USAA has elected to extend the maturity dates for $170 million of catastrophe bond notes across three Residential Re issuances, as the firm continues to expect that it may be able to recover some of its losses from the principal that remains outstanding.USAA continues to read the full article →

USAA’s loss estimates drop, so ResRe cat bond safe for now

According to Artemis' sources, U.S. primary military mutual insurer USAA has reduced its estimate of aggregated qualifying catastrophe losses and as a result the riskiest layers of the insurers aggregate Residential Re catastrophe bonds are still safe, for the moment.We wrote almost a fortnight ago that, based on USAA's latest read the full article →

USAA’s ResRe cat bonds face payout as California wildfire losses bite

According to sources, U.S. primary military mutual insurer USAA is anticipating losses of between $387 million and $581 million from recent wildfires in northern California, a financial impact which raises the likelihood that some of the riskiest layers of the insurers aggregate Residential Re catastrophe bonds will now be triggered.Artemis read the full article →

USAA’s Residential Re 2014-1 cat bond hits $130m at pricing

U.S. primary insurer USAA’s latest and 22nd catastrophe bond issuance, Residential Reinsurance 2014 Ltd. (Series 2014-1), will complete at $130m in size while the deals pricing remained at mid and upper levels for the two tranche's to be issued.USAA's Residential Re 2014-1 was launched targeting between $100m and $150m of read the full article →

Residential Re 2014-1 cat bond to upsize, pricing moves to mid/upper end

U.S. primary and military mutual insurer USAA’s 22nd catastrophe bond issuance, Residential Reinsurance 2014 Ltd. (Series 2014-1), is progressing to market and is set to grow in size while pricing on each tranche of notes moves to the mid and upper end of guidance.This latest cat bond from USAA features read the full article →

Residential Re 2014-1 cat bond launches for USAA, features new perils

The most prolific sponsor of catastrophe bonds is back with its regular new issue timed for its mid-year reinsurance renewal. USAA has launched a Residential Reinsurance 2014 Ltd. (Series 2014-1) cat bond and the transaction features some new perils for the ILS market.This is the 22nd catastrophe bond transaction sponsored by read the full article →