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Avatar Property & Casualty Insurance cat bond returns to $100M

Avatar Property & Casualty Insurance Co.'s Casablanca Re Ltd. (Series 2017-1), which shrunk to $87.7 million, is now expected to complete at the originally targeted amount of $100 million, Artemis reported.

The class A tranche, which launched at $55.2 million but then aimed for $60 million, is now expected to close at about $67 million. The class B tranche, which previously remained unchanged at $21.7 million, should complete at $26.3 million, and the class C tranche is expected to close at $6.8 million after it previously decreased to $6 million from $23.2 million.

The catastrophe bond is set for completion on June 1, Artemis noted.