Selective prices cat bond High Point Re at top edge of guidance
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Selective prices cat bond High Point Re at top edge of guidance

Abbie Wood
04 December 2023
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stack of one hundred dollars notes

Selective Insurance Company of America has priced its debut cat bond High Point Re at 5.75% as the deal upsized to $325mn from the initial target of $200mn.

The spread settled at the upper edge of initial guidance of 5%-5.75%, giving a multiple of 6.5x the expected loss of 0.89%

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