XL Catlin to sell $1 billion worth of cat bonds
Posted On: Dec. 12, 2016 5:00 AM CSTXL Catlin plans to sell $1 billion worth of catastrophe bonds, Artemis.bm reported. The bonds – Galilei Re Ltd. (Series 2016-1) and Galilei Re Ltd. (Series 2017-1) – will provide collateralized reinsurance protection for losses from U.S. named storms, U.S. earthquakes, European windstorms, Australian tropical cyclones and Australian earthquakes. Both series target $500 million of fully collateralized reinsurance protection each.