Vista Re Ltd. (Series 2021-1)

Vantage Risk sees its successful first visit to the catastrophe bond market for its $225 million Vista Re Ltd. (Series 2021-1) cat bond issuance as a step on the road to building what it terms a Partnership Capital model and developing investor relations.

Vantage Risk has now secured its first catastrophe bond at the upsized $225 million target, an increase of 50%, while the pricing for its Vista Re Ltd. (Series 2021-1) cat bond issuance has now been fixed 10% below the mid-point of initial coupon guidance.

Vantage Risk’s target for its first catastrophe bond has been lifted by 50%, as the recently launched Vista Re Ltd. (Series 2021-1) cat bond issuance looks set to hit $225 million in size, while at the same time pricing looks likely to come in at the bottom of, or below, guidance.

Vantage Risk, the insurance and reinsurance start-up launched in time for the January renewals, was set up to use insurance-linked securities (ILS) capital and structures right from the start, co-founder and Chief Executive Officer (CEO), Greg Hendrick said today during the SIFMA IRLS 2021 event.

Vantage Risk, the insurance and reinsurance start-up launched by industry veterans Greg Hendrick and Dinos Iordanou, is in the market to sponsor its first catastrophe bond, with a $150 million Vista Re Ltd. (Series 2021-1) North American multi-peril deal.