Residential Reinsurance 2022 Ltd. (Series 2022-2)

USAA, the U.S. primary mutual insurer, has upsized its latest catastrophe bond, so the Residential Reinsurance 2022 Limited (Series 2022-2) is now set to provide the company $195 million of reinsurance protection, while pricing of both tranches of notes settled at the top-end of initial guidance, Artemis has learned.

USAA, the U.S. primary mutual insurer, has returned to the catastrophe bond market with a $150 million Residential Reinsurance 2022 Limited (Series 2022-2) that will be its 40th issuance and as the first cat bond since hurricane Ian, the deal provides a first glimpse of the post-Ian pricing environment.