Vista Re Ltd

The evolution of investor’s and capital’s view of opportunities in the insurance-linked securities (ILS) space has been particularly rapid over the last couple of years and Chris McKeown of Vantage Risk believes collateralized reinsurance opportunities and new lines of business are increasingly of interest.

In order to avoid disappointing investors and guarantee continued access to capital, the reinsurance and insurance-linked securities (ILS) industry needs to escape the market-cycle mindset and deal with the biggest threat it faces, which is inertia, according to Chris McKeown of Vantage Risk.

In working with third-party capital investors, Vantage Risk Ltd., the almost two year’s old Bermuda headquartered insurance and reinsurance company, sees it as important to help mitigate challenges investors have faced with traditional ILS products.

Vantage Risk Ltd., the still relatively young Bermuda headquartered insurance and reinsurance company, has now secured its latest Vista Re Ltd. (Series 2022-1) catastrophe bond arrangement at the targeted $65 million size, but with pricing eventually fixed roughly 15% above the initial mid-point of guidance.

The second catastrophe bond to be sponsored by relatively new insurance and reinsurance company Vantage Risk Ltd. has seen a significant increase in pricing, with the still $65 million Vista Re Ltd. (Series 2022-1) issuance seeing the mid-point of guidance rising 16% while marketing.

Vantage Risk Ltd., the insurance and reinsurance start-up launched by industry veterans Greg Hendrick and Dinos Iordanou, has returned to the catastrophe bond market in search of another slice of capital markets backed catastrophe reinsurance protection, with a $65 million or greater Vista Re Ltd. (Series 2022-1) issuance.

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.