Mapfre Re has now successfully priced its debut catastrophe bond, with the Recoletos Re DAC (Series 2024-1) issuance now secured to provide the reinsurance company with an upsized $125 million of retrocession, with the notes priced below the initial guidance range that had been offered.
Spanish global reinsurance company Mapfre Re ventured into the catastrophe bond market for the first time in late November this year.
The initial target with its debut Recoletos Re catastrophe bond issuance, was for Mapfre Re to secure $100 million in annual aggregate US named storm retrocessional reinsurance protection from capital market investors.
FULL ORIGINAL PUBLICATION HERE
