Progressive’s zero-coupon Bonanza Re sizes 40% higher at $70mn
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Progressive’s zero-coupon Bonanza Re sizes 40% higher at $70mn

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Progressive’s zero-coupon Bonanza Re cat bond has sized at $70mn, 40% higher than the insurer had initially sought, this publication understands.

Progressive had targeted $50mn of coverage earlier this month, which was then moved to a target of $60mn-$70mn, with the size settling at the top end of the range.


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