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

19 December 2023

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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.

Progressive’s

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

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

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

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

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Uncover exclusive insights tailored for insurance leaders

Topics

Universal ‘seeing more entrants coming into the market’: CEO Donaghy

ILS managers can differentiate on ESG factors: panel

Cyber ILS market 'yet to be tested’: panel

Sponsors routinely weigh cat bonds as part of their risk transfer strategy: panel

Jamaica’s $150mn cat bond prices at upper reach of guidance