Torrey Pines Re Ltd. (Series 2022-1)

Palomar Insurance Holdings, the speciality California-headquartered insurer that provides largely catastrophe exposed property products, significantly increased its reinsurance program limit at the mid-year renewals, expanding coverage by $630 million.

Palomar Insurance Holdings, the speciality California-headquartered insurer that provides largely catastrophe exposed property products, has now secured its latest Torrey Pines Re Ltd. (Series 2022-1) catastrophe bond at the revised lower-end $275 million target size, but with its coupons priced at the elevated levels we reported yesterday.

The latest catastrophe bond from Palomar Insurance Holdings, the speciality California-headquartered insurer that provides largely catastrophe exposed property products, has had its pricing hiked considerably, with the coupons for both tranches of the still $300 million target Torrey Pines Re Ltd. (Series 2022-1) deal rising well above their initial guidance.

Palomar Insurance Holdings, the speciality California-headquartered insurer that provides largely catastrophe exposed property products, is back in the catastrophe bond market, sponsoring its third issuance, with a Torrey Pines Re Ltd. (Series 2022-1) deal through which it is seeking $300 million or more of US earthquake reinsurance protection.