American Strategic may drop size of Bonanza Re cat bond
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American Strategic may drop size of Bonanza Re cat bond

cloud storm sky with thunderbolt over rural landscape

American Strategic Insurance Corp has lowered the target size for its new Bonanza Re catastrophe bond to $75mn-$100mn from the previous $100mn, as forecast pricing on the deal rose.

The bond is American Strategic’s first issuance of 2021.

The bond will provide the company with indemnity cover on an annual aggregate basis against named storms, winter storms, wildfires, earthquakes and severe thunderstorms.


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