trending Market Intelligence /marketintelligence/en/news-insights/trending/fees6uscutuxgbc4ntkhda2 content esgSubNav
In This List

Primary insurer Safepoint launching $165M cat bond

Blog

The Big Picture 2022 Insurance Industry Outlook

Podcast

Next in Tech | Episode 37: Insurance impacts on technology and vice versa

Case Study

A Prestigious Global Business School Gains a Competitive Edge

Video

S&P Capital IQ Pro | Unrivaled Sector Coverage


Primary insurer Safepoint launching $165M cat bond

U.S. primary insurer Safepoint Insurance Co. is sponsoring a multi-peril Manatee Re II Ltd. deal to secure $165 million of coverage in the catastrophe bond market, Artemis reported.

The Bermuda-based special purpose insurer, Manatee Re II Ltd., will issue two different tranches as part of the offering.

The $125 million class A tranche has an attachment probability equivalent to 2.22% and expected loss of less than 1.08% and the coupon is expected to be 4.25% to 4.75%, according to the report. The $40 million class B tranche has an attachment probability equivalent of 6.99% and an expected loss of 4.07%, while The coupon is expected to be 7.75% to 8.5%.