Residential Reinsurance 2015 Ltd. (Series 2015-1)

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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 →

ResRe 2015-1 pricing reflects investor demand for higher yield cat bonds

The price guidance for U.S. military mutual insurer USAA's $150m Residential Reinsurance 2015 Ltd. (Series 2015-1) catastrophe bond has been fixed and it clearly demonstrates the strong investor demand for higher yielding cat bond investment opportunities. When the Residential Re 2015-1 cat bond was launched earlier this month, we noted that read the full article →

USAA returns with $150m Residential Re 2015-1 multi-peril cat bond

U.S. military mutual insurer USAA is back in the catastrophe bond market again with a $150m Residential Reinsurance 2015 Ltd. (Series 2015-1). The deal looks set to test ILS investor pricing limits, as one tranche seeks to push a new low compared to the insurers previous deals. This will be USAA's read the full article →