Aspen secures $300 million of multi-peril cover from cat bond

Bermuda-based insurer and reinsurer Aspen Insurance Holdings Ltd. has secured $300 million of multi-peril retrocessional reinsurance from its Kendall Re Ltd. (Series 2024-1) catastrophe bond issuance, Artemis reported. The bond will provide Aspen with a three-year source of fully-collateralized retrocessional reinsurance to cover its U.K. underwriting company, its Lloyd’s syndicate 4711, its Bermuda unit and two U.S. underwriting units.