USAA, the primary military mutual insurance company, has now successfully secured its latest catastrophe bond, the Residential Reinsurance 2023 Limited (Series 2023-2) deal, one-third larger than the initial target, to provide it $400 million of multi-peril and multi-year collateralized catastrophe reinsurance protection.
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Insurer USAA looks set to have a strong result from its latest catastrophe bond, with significant support shown by the investor base for its new Residential Reinsurance 2023 Limited (Series 2023-2) deal, from which it is now targeting as much as $400 million of multi-peril reinsurance.
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USAA, likely the most prolific and consistent of sponsors of catastrophe bonds, is back with what will be the 42nd we have listed from the company, seeking $300 million or more in multi-peril US reinsurance protection from the capital markets through a Residential Reinsurance 2023 Limited (Series 2023-2) issuance.
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