Pool Re, the UK government backed mutual terrorism reinsurance firm, is back in the catastrophe bond market to sponsor its fourth terrorism catastrophe bond, with a Baltic PCC Limited (Series 2026-1) issuance being offered to investors, we understand.
When Pool Re announced its latest retrocession program renewal earlier this month, we indicated that sources were saying at the time that a new Baltic terror cat bond may emerge within a matter of weeks.
Previously, Pool Re had renewed its Baltic cat bonds as each of the previous vintages matured, so only keeping one deal in-force at a time within its retrocessional reinsurance arrangements.
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