trending Market Intelligence /marketintelligence/en/news-insights/trending/OhhiGaQsmDETsGo_fcLZIw2 content
Log in to other products

Login to Market Intelligence Platform


Looking for more?

Contact Us

Request a Demo

You're one step closer to unlocking our suite of comprehensive and robust tools.

Fill out the form so we can connect you to the right person.

If your company has a current subscription with S&P Global Market Intelligence, you can register as a new user for access to the platform(s) covered by your license at Market Intelligence platform or S&P Capital IQ.

  • First Name*
  • Last Name*
  • Business Email *
  • Phone *
  • Company Name *
  • City *
  • We generated a verification code for you

  • Enter verification Code here*

* Required

Thank you for your interest in S&P Global Market Intelligence! We noticed you've identified yourself as a student. Through existing partnerships with academic institutions around the globe, it's likely you already have access to our resources. Please contact your professors, library, or administrative staff to receive your student login.

At this time we are unable to offer free trials or product demonstrations directly to students. If you discover that our solutions are not available to you, we encourage you to advocate at your university for a best-in-class learning experience that will help you long after you've completed your degree. We apologize for any inconvenience this may cause.

In This List

Report: USAA sponsoring $150M catastrophe bond

Infrastructure Issues: Tools to Dig Deep on Potential Risks

Part Two IFRS 9 Blog Series: The Need to Upgrade Analytical Tools

2018 US Property Casualty Insurance Market Report


Fintech Funding Flows To Insurtech In February

Report: USAA sponsoring $150M catastrophe bond

United Services Automobile Association is sponsoring a $150 million Residential Reinsurance 2019 Ltd. (Series 2019-2) catastrophe bond, Artemis reported.

The company is seeking four years of collateralized indemnity reinsurance protection from losses stemming from U.S. tropical cyclones, earthquakes and potential subsequent fires, severe thunderstorms and winter storms. It is also seeking coverage for wildfires, volcanic eruptions, meteorite impact and other perils.

Residential Reinsurance 2019 Ltd., a Cayman Islands-domiciled special purpose vehicle, will reportedly issue two sets of notes. A $50 million or greater tranche of notes will be the lower layer of protection for USAA.

According to the report, the securities are effectively being offered with a coupon spread ranging from 21% to 24% as they are structured as zero-coupon. They are being marketed at between 79% and 76% of par value.

USAA will get four years of reinsurance protection from a second $100 million tranche of notes. This coverage is reportedly expected to trigger after USAA sustains $1.07 billion of losses. The securities have a coupon price guidance ranging from 11.25% to 12.25%.