Titania Re Ltd. Series 2024-1

Ariel Re has now finalised its new Titania Re Ltd. (Series 2024-1) catastrophe bond transaction, securing the 86% upsized target of $325 million in multi-peril industry-loss triggered retrocessional reinsurance, while the notes have been priced a full percentage point below the low-end of the initial guidance range.

Ariel Re has again increased the target size for its new Titania Re Ltd. (Series 2024-1) catastrophe bond transaction, with now as much as $325 million in multi-peril industry-loss triggered retrocessional reinsurance sought, while once again new and lower price guidance is being offered.

Ariel Re has increased its target for the new Titania Re Ltd. (Series 2024-1) catastrophe bond transaction, with the indicative size raised by roughly 57% to secure $275 million in multi-peril industry-loss triggered retrocessional reinsurance, while at the same time the price guidance has been reduced.

Global reinsurance firm Ariel Re has returned to the catastrophe bond market looking to secure $175 million or more in multi-peril industry-loss triggered retrocession through the Titania Re Ltd. (Series 2024-1) transaction, a deal that had initially been mooted earlier in the year.

We’re told by sources that global reinsurance player Ariel Re has opted to pull its latest catastrophe bond issuance as a response to the dynamic and higher cat bond market pricing environment, so the Titania Re Ltd. (Series 2024-1) transaction will not now be issued.

Global reinsurance firm Ariel Re is back in the catastrophe bond market for a fourth issuance in the Titania Re series of deals, targeting $100 million or more in multi-peril industry-loss triggered retrocession, through this Titania Re Ltd. (Series 2024-1) transaction.