USAA, the U.S. primary mutual insurer, is sponsoring a $375 million plus aggregate catastrophe bond transaction, with a Residential Reinsurance 2022 Limited (Series 2022-1) deal being marketed to cat bond funds and investors.
This is USAA’s regular May sponsorship of an annual aggregate catastrophe bond, as the insurer continues to place the capital markets at the heart of its large reinsurance program.
USAA remains the most prolific sponsor of catastrophe bonds for its reinsurance protection and this new Residential Re deal will be the 39th issuance from the company that we have listed in our extensive Artemis Deal Directory and the 38th to use the Residential Re name (with one Espada Re cat bond sponsored in 2016).
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