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Home / Insurance / Ariel Re secures storm, earthquake coverage through cat bond

Ariel Re secures storm, earthquake coverage through cat bond



Ariel Re said on Wednesday that they have secured $ 175 million in multi-year reinsurance with collateral through a 144A disaster bond issued by insurance company Titania Re Ltd in Bermuda.

Titania Re Series 2021-2 will provide protection to Ariel Re against North American named storms and earthquakes using an indexed industrial loss trigger, Ariel Re said in a statement.

Strong investor demand allowed the bond to rise to $ 175 million from $ 150 million, according to Daniel Pell, ceded underwriter at Ariel Re.

Class A Principal At-Risk Variable Rate Notes expire on December 27, 2024 and were placed privately, according to a statement on Tuesday from the Bermuda Stock Exchange.

Ariel Re placed her first cat bond Titania Re Ltd. Series 2021

-1 in June.

Ryan Mather, CEO of Ariel Re, called Titania Re "an important part of our strategy."

The disaster bond ended on December 21 with TigerRisk Capital Markets & Advisory as the sole structure. agent and joint bookrunner and Aon Securities LLC as joint bookrunner.


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