Wrigley Re Ltd

The just completed first indemnity catastrophe bond sponsored by asset management giant Blackstone is a new milestone for the insurance-linked securities (ILS) market, Swiss Re’s Jean-Louis Monnier has said, as it broadens what the cat bond can do for asset managers seeking peak catastrophe peril protection.

Investment giant Blackstone has successfully secured its targeted $250 million of multi-peril, named storm and earthquake, and indemnity based catastrophe insurance protection for its real estate funds, through the new Wrigley Re Ltd. (Series 2023-1) cat bond transaction.

Investment giant Blackstone is aiming to secure its latest and second catastrophe bond priced at the low-end of guidance, seeking as the company aims to seal the capital markets provision of $250 million of multi-peril and indemnity based catastrophe insurance protection through the Wrigley Re Ltd. (Series 2023-1) transaction.

Investment giant Blackstone has returned to the catastrophe bond market for the second time, seeking a $250 million or greater source of multi-peril and indemnity based catastrophe insurance protection for risks held by its real estate funds, from this Wrigley Re Ltd. (Series 2023-1) cat bond deal.

Investment giant Blackstone is increasingly focusing on the need to manage risks within its various real estate companies and assets, using risk transfer solutions, insurance and instruments such as catastrophe bonds and insurance-linked securities (ILS).

The $50 million Wrigley Re Ltd. (Series 2021-1) catastrophe bond transaction, that will provide parametric earthquake insurance protection to a real estate captive insurer owned by investment giant Blackstone, has now been priced and its coupon fixed approximately 20% below the initial mid-point of price guidance.

Price guidance has fallen for the Wrigley Re Ltd. (Series 2021-1) catastrophe bond transaction, that is being issued to provide parametric earthquake insurance protection to Gryphon Mutual Insurance Company, a real estate captive insurer owned by investment giant Blackstone.

Gryphon Mutual Insurance Company, a real estate captive insurer which we understand to be owned by investment giant Blackstone, is entering the catastrophe bond market with the help of global reinsurance firm Hannover Re, with the company seeking $50 million of parametric California earthquake protection from a Wrigley Re Ltd. (Series 2021-1) transaction.