Mayflower Re lists $100m cat bond

Mayflower Re has listed a $100 million catastrophe bond on the Bermuda Stock Exchange designed to provide cover for Taggregate reinsurance against losses from Massachusetts named storms, severe thunderstorms and winter storm events.

Mayflower Re is sponsored by the Massachusetts Property Insurance Underwriting Association (MPIUA), which is a residual market property insurance association, or FAIR Plan, for the Commonwealth of Massachusetts. It is the fifth cat bond issued by the MPIUA and is a three year bond. 

It was a private placement to qualified investors and the listing sponsor was Appleby Global Listing Services (Bermuda).

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