Log In

Reset Password
BERMUDA | RSS PODCAST

Ariel Re sponsors another cat bond

First Prev 1 2 Next Last

Bermudian-based reinsurer Ariel Re has sponsored a 144A index-triggered catastrophe bond issued by Bermuda special purpose insurer Titania Re Ltd.

The company said Titania Re will provide $175 million of multiyear collateralised reinsurance cover to Ariel Re using an indexed industry loss trigger under the Series 2021-2 Notes, protecting against North American named storms and earthquakes.

This is Ariel Re’s second foray into the cat bond market after a successful placement of their first cat bond Titania Re Ltd. (Series 2021-1) earlier this year.

Ryan Mather, chief executive officer of Ariel Re, said: “We’re very pleased to announce the success of Ariel Re’s second cat bond sponsorship.

“This transaction supports Ariel Re in our mission to be the premier manager of reinsurance risk.

“Titania Re is an important part of our strategy and our return to the cat bond market shows our commitment to delivering value to all parties.”

Daniel Pell, ceded underwriter at Ariel Re, added: “The strong demand from investors allowed us to upsize our second cat bond from $150 million to $175 million and execute the transaction with confidence; we are encouraged by the continued support for Ariel Re and aim to further build on our relationships with ILS investors.”

Ariel Re said the cat bond successfully closed on December 21.

TigerRisk Capital Markets & Advisory acted as sole structuring agent and joint bookrunner, with Aon Securities LLC acting as joint bookrunner.

Ryan Mather, chief executive officer of Ariel Re (File photograph)
Ariel Re: has sponsored a 144A index-triggered catastrophe bond issued by Bermuda special purpose insurer Titania Re Ltd

You must be Registered or to post comment or to vote.

Published December 23, 2021 at 7:54 am (Updated December 23, 2021 at 7:54 am)

Ariel Re sponsors another cat bond

What you
Need to
Know
1. For a smooth experience with our commenting system we recommend that you use Internet Explorer 10 or higher, Firefox or Chrome Browsers. Additionally please clear both your browser's cache and cookies - How do I clear my cache and cookies?
2. Please respect the use of this community forum and its users.
3. Any poster that insults, threatens or verbally abuses another member, uses defamatory language, or deliberately disrupts discussions will be banned.
4. Users who violate the Terms of Service or any commenting rules will be banned.
5. Please stay on topic. "Trolling" to incite emotional responses and disrupt conversations will be deleted.
6. To understand further what is and isn't allowed and the actions we may take, please read our Terms of Service
7. To report breaches of the Terms of Service use the flag icon