USAA has successfully secured the upsized target of $400 million of reinsurance limit from its latest catastrophe bond transaction, with the two lower-risk tranches of the Residential Reinsurance 2020 Limited (Series 2020-2) transaction pricing down significantly for the insurer.
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U.S. primary mutual insurer USAA has increased its target size for its latest catastrophe bond, with the insurer now aiming to secure as much as $400 million of multi-year, fully collateralized, multi-peril catastrophe reinsurance protection from the capital markets with its new Residential Reinsurance 2020 Limited (Series 2020-2) transaction.
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U.S. primary mutual insurer USAA is back in the catastrophe bond market with its second transaction of 2020, a Residential Reinsurance 2020 Limited (Series 2020-2) deal that seeks $300 million of multi-year, fully collateralized, multi-peril catastrophe reinsurance protection from the capital markets for the carrier.
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