Generali's Lion I Re cat bond set to expand to up to $262.5 millionReprints
Assicurazioni Generali S.p.A.'s Irish-domiciled catastrophe bond Lion I Re Ltd. is on course to grow to around €180 million ($249 million) to €190 million ($262.5 million) in size, Artemis.bm reported.
This represents an increase of around 27% for the €150 million ($207.2 million) tranche of notes, through which the Italian insurer seeks multi-year reinsurance protection against windstorms in Europe. However, pricing has fallen. The cat bond was originally marketed with a 2.5-3% coupon price range, but this has been lowered to 2.25-2.5%, Artemis.bm reports.