VIG Re, the reinsurance arm of Vienna Insurance Group, is now aiming to slightly upsize its debut catastrophe bond sponsorship, raising the target to secure a larger €60 million of fully-collateralized European windstorm retrocession from the Charles Bridge Re 2026 DAC issuance, Artemis has learned.
VIG Re made its debut in the catastrophe bond market for the first time last month.
Initially the company was seeking €50 million of retrocessional reinsurance windstorm protection from investors with this debut Charles Bridge Re deal.
In our first update on this transaction, we learned that VIG Re was looking to capitalise on investor appetite within the cat bond market, as the spread guidance for the notes on offer for this deal was reduced, while the €50 million target still remained in place.
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