A number of USAA’s aggregate catastrophe bond tranches issued under its Residential Re program of deals have seen their secondary market prices marked repeatedly lower over recent months, with its losses from a severe convective storm (SCS) outbreak now driving them further down with some tranches marked near zero.
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USAA, the primary military mutual insurance company, has successfully doubled in size its 40th catastrophe bond under the Residential Re name, with the company set to benefit from $400 million in multi-peril reinsurance protection from the Residential Reinsurance 2023 Limited (Series 2023-1) issuance.
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USAA, the primary military mutual insurance company, could double the targeted size of its 40th catastrophe bond under the Residential Re name, now seeking up to $400 million in multi-peril reinsurance protection from the Residential Reinsurance 2023 Limited (Series 2023-1) issuance.
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USAA, perhaps the most consistent of catastrophe bond sponsors, at least of any primary company, is back in the cat bond market with what will be its 40th deal under the Residential Re name, seeking $200 million or more in multi-peril reinsurance protection from a Residential Reinsurance 2023 Limited (Series 2023-1) issuance.
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