Spanish global reinsurer Mapfre Re’s sponsorship of its third and largest catastrophe bond yet, the $200 million  issuance, underscores the company’s disciplined approach to risk management, as well as its commitment to securing well-aligned protection for Mapfre Group, Miguel Rosa, CEO of Mapfre Re has said.As we’ve been reporting, Mapfre Re, the reinsurance arm of the Mapfre Group, successfully priced its third and largest catastrophe bond sponsorship earlier this month, with the tranche of notes on offer pricing at the lowest-end of guidance.“The transaction represents a significant milestone, introducing for the first time indemnity‑based, per‑occurrence U.S.named storm coverage fully integrated into Mapfre Re’s corporate reinsurance purchasing program for the Mapfre Group,” Mapfre Re said.

As the firm explained, this approach allows for closer alignment between reinsurance protection and the Group’s underlying risk exposure, improving the effectiveness of risk transfer to the capital markets.GC Securities, the investment banking and capital markets unit of reinsurance broker Guy Carpenter, acted as sole structuring agent and also joint bookrunner of the transaction, alongside Aon Securities.Miguel Rosa, CEO of Mapfre Re, commented: “This transaction underscores our disciplined approach to risk management and our continued commitment to securing robust, well‑aligned protection for the Mapfre Group.

“By further integrating indemnity‑based catastrophe bond coverage into our reinsurance corporate program, we are supporting the Group’s resilience while making strategic and diversified use of capital markets capacity.” Mapfre Re also noted that through this transaction, it continues to reinforce the use of alternative capital as a structural pillar of its retrocession and reinsurance purchasing strategy, which ultimately further enhances the Group’s resilience through diversified sources of capacity that complement traditional products.“This latest closing reaffirms Mapfre Re’s commitment to advanced and rigorous risk management, enhancing its protection against U.S.hurricane risk and further deepening the integration of capital markets within its global reinsurance strategy,” Mapfre Re added.

As a reminder, you can read all about this new  catastrophe bond and view details on almost every other cat bond ever issued in our extensive Artemis Deal Directory..All of our Artemis Live insurance-linked securities (ILS), catastrophe bonds and reinsurance can be accessed online.Our can be subscribed to using the typical podcast services providers, including Apple, Google, Spotify and more.