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.
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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.
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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.
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