Insight and Intelligence on the London & International Insurance Markets

25 February 2018

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USAA and XL pay out to secure cat bond top-ups

Sofia Geraghty and Fiona Robertson 7 November 2017

Regular insurance-linked securities (ILS) sponsors USAA and XL Catlin have topped up their cat bond cover in the first transactions completed after the 2017 hurricane losses, with pricing on the deals showing an increase in rates.

USAA's Residential Re 2017-2 cat bond grew by almost a third over the course of marketing and is set to close at $295mn.

Pricing on the two larger, lower-risk tranches of the deal settled at the lowest end of initial targets, but are still...

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This article was published as part of issue November 2017/1

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