Storm Uri markdowns wipe +$220mn from Caelus, Sanders and ResRe bonds
  • X
  • LinkedIn
  • Show more sharing options
  • Copy Link URLCopied!
  • Print
  • X
  • LinkedIn
Insurance Insider ILS is part of the Delinian Group, Delinian Limited, 4 Bouverie Street, London, EC4Y 8AX, Registered in England & Wales, Company number 00954730
Copyright © Delinian Limited and its affiliated companies 2024

Accessibility | Terms of Use | Privacy Policy | Modern Slavery Statement

Storm Uri markdowns wipe +$220mn from Caelus, Sanders and ResRe bonds

texas-winter-storm-2021-pa-imagesjpg_73119.jpg
Photo: PA

Pricing on multiple annual aggregate cat bonds issued by Nationwide, Allstate and USAA has been affected by the recent Storm Uri, wiping more than $220mn off their value in the past month, after snowstorms cast a number of southern US states into turmoil last month.

A pricing sheet issued on Friday 26 February, and seen by this publication, shows that the bid-offer spread for several Caelus Re, Sanders Re and Residential Re notes has grown considerably in a reflection of the uncertainty over the...

Enter your e-mail to claim a free trial:

Uncover exclusive insights tailored for insurance leaders

    • Stay Informed: Access exclusive industry insights
    • Gain a competitive advantage: Hear first about tactical developments
    • Make better decisions: Understand market dynamics in crucial lines of business
Gift this article