Hamilton sponsors new Easton Re cat bond

Bermuda’s Hamilton Insurance Group is sponsoring a new cat bond, the company announced. 

Series 2024-1 notes are issued by Easton Re, which will provide Hamilton’s operating platforms with a $20 million capacity for US and territories named storm and North American earthquake risk.

The Easton Re catastrophe bond has been issued from Bermuda and the risk period will run from January 1, 2024 to December 31, 2026.

“We are extremely pleased to announce the success of our second sponsorship of Easton Re bonds,” said Hanni Ali, Hamilton’s senior vice president. 

“Easton Re continues to be an important part of Hamilton’s strategy as a newly public company, providing meaningful protection to our operating platforms at an attractive risk-adjusted cost.

He added: “That we have secured more retrocession than initially targeted and at a better price than original guidance underscores investor confidence in Hamilton. We are encouraged by the continued support and aim to further build on our relationships with ILS investors.”

Did you get value from this story? Sign up to our free daily newsletters and get stories like this sent straight to your inbox.