Sabine Re Ltd. (Series 2024-1)

First-time catastrophe bond sponsor Allied Trust Insurance Company has now secured the targeted $100 million in fully-collateralized reinsurance from its debut Sabine Re Ltd. (Series 2024-1) catastrophe bond issuance, but settlement of the deal has been pushed back slightly into April, Artemis has learned.

Another first-time catastrophe bond sponsor has come to market, as Texas headquartered Allied Trust Insurance Company looks to secure $100 million in fully-collateralized named storm reinsurance protection from the capital markets through this Sabine Re Ltd. (Series 2024-1) issuance, Artemis has learned.