Residential Reinsurance 2016 Ltd

The 28th catastrophe bond from U.S. military mutual primary insurance USAA, Residential Reinsurance 2016 Ltd. (Series 2016-2), is set to achieve its upsize target and will provide the insurance firm with $400m of multi-peril, multi-year reinsurance cover Artemis understands.

Insurer USAA is seeking to upsize its latest catastrophe bond issuance, with the Residential Reinsurance 2016 Ltd. (Series 2016-2) transaction now targeting from $280m to $400m of reinsurance coverage for the firm and sources said that price guidance has been reduced on all three tranches.

U.S. military mutual primary insurer USAA is back with its latest catastrophe bond, targeting $280 million of multi-peril coverage from a Residential Reinsurance 2016 Ltd. (Series 2016-2) issuance.

USAA’s latest catastrophe bond, the U.S. multi-peril, three tranche Residential Reinsurance 2016 Limited (Series 2016-1), is set to achieve the insurers upsized target of $250m of collateralised reinsurance cover, with all three tranches expected to price at the lowest end of the already reduced guidance.

U.S. military mutual insurer USAA is targeting an upsized $250m at lower and tightened pricing for its newest and 27th catastrophe bond, the three tranche, Residential Reinsurance 2016 Limited (Series 2016-1).

U.S. military mutual insurer USAA is returning to the capital markets for its latest, and 27th securitization of insurance risk, with a $150m, three tranche, Residential Reinsurance 2016 Limited (Series 2016-1) catastrophe bond.