Insight and Intelligence on (Re)insurance Convergence with the Capital Markets

4 February 2012

Hartford’s $180mn Foundation Re III closes

1 February 2010

The ILS market has concluded its first transaction of 2010 with the closure of Hartford Fire Insurance Co's $180mn cat bond, Foundation Re III.

The transaction, which almost doubled in size to $180mn in marketing and priced at the low end of expectations, had the "eager" support of investors, keen to back "a repeat and consistent user of the capital markets", according to joint structurer and co-manager GC Securities.

GC Securities noted that the recent deal was Hartford's sixth collateralised...

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