American Integrity Insurance issues $150 million catastrophe bond

By Sarah Lizee

Olympia, Wash., March 26 – American Integrity Insurance Co. issued a $150 million catastrophe bond this month via GC Securities, according to a press release.

The new catastrophe bond adds to American Integrity’s reinsurance program and will quickly and easily convert into cash for rapid claims-paying after a catastrophic storm.

The series 2020-1 bond becomes effective on June 1, the beginning of the 2020 hurricane season, and uses a Singapore-domiciled special purpose reinsurance vehicle, Integrity Re II Pte. Ltd.

The insurance company is based in Tampa.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.