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Frontline Insurance Group cat bond priced around midpoint

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Frontline Insurance Group cat bond priced around midpoint

Frontline Insurance Group LLC's Frontline Re Ltd. (Series 2018-1) $350 million catastrophe bond has priced around the midpoints of initial guidance, Artemis reported.

The class A tranche will now be offered to investors at 7%, the middle of its initial guidance range of 6.75% to 7.25%. The class B notes will be offered at 11.75%, below the midpoint of the initial guidance of 11.5% to 12.25%.

The deal would protect Frontline Insurance and subsidiary First Protective against certain losses from U.S. named storms, with coverage initially for Florida, North Carolina, South Carolina and Alabama.