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21 May 2012

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Chartis and USAA poised to issue cat bonds

8 November 2011

Two new cat bonds are currently fundraising in the market - a $125mn US multi-peril Residential Re offering from repeat sponsor USAA and a $275mn Compass Re issuance from Chartis division National Union Fire Insurance Company (NUFI).

The NUFI has previously issued cat bonds under the Lodestone Re brand.

The Compass issuance will be split into three tranches that all cover US wind and quake risk. One $75mn tranche provides first event per-event cover and the remaining two $100mn portions...

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