USAA pulls riskier ResRe 2020 cat bond tranche & settles for $100m

U.S. primary mutual insurer USAA has elected to withdraw the riskier tranche from its newest Residential Reinsurance 2020 Limited (Series 2020-1) catastrophe bond transaction and despite aiming to slightly upsize the remaining lower-risk layer of the issuance has now settled for $100 million of coverage, we understand. We’re told this is in response to a…

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PartnerRe looks set for catastrophe growth, makes Haft CEO Global Cat

Bermuda headquartered, EXOR owned reinsurance company PartnerRe is targeting growth in catastrophe exposed underwriting opportunities and has created a new leadership role of CEO Global Cat, which it has given to current leadership executive Greg Haft. PartnerRe has always had a focus on property catastrophe underwriting and has used third-party capital structures to enable investors…

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