GeoVera Insurance Holdings, Ltd., the specialty earthquake-focused residential property insurance company, has now secured its debut Veraison Re Ltd. (Series 2023-1) catastrophe bond at the initial targeted size of $150 million, despite the pricing rising significantly for the higher risk tranche of notes issued.
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Specialty earthquake-focused residential property insurance company GeoVera Insurance Holdings, Ltd. is still on-track to sponsor its first catastrophe bond, but the $150 million Veraison Re Ltd. (Series 2023-1) deal has seen some changes to terms around extension spreads and its price guidance has risen, we’re told.
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Specialty earthquake-focused residential property insurance company GeoVera Insurance Holdings, Ltd. has entered the catastrophe bond market for the first time, sponsoring a $150 million debut earthquake cat bond issuance, Veraison Re Ltd. (Series 2023-1).
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