Article ID: 11a1c31a27641b24c99d656dfc35b0a061f7f19f70337b57cb55f33570c1d82a
Source ID: primary:artemis.bm
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Extraction Method: trafilatura
URL: https://www.artemis.bm/deal-directory/gws-re-limited-series-2026-1/
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GWS Re Limited (Series 2026-1) – Full details: People’s Trust Insurance Company, a Florida homeowners specialist insurer, is another first-time sponsor to enter the catastrophe bond market for its debut sponsorship this year. People’s Trust Insurance Company has established a new Bermuda based structure to issue catastrophe bonds on its behalf named GWS Re Limited, we understand. GWS Re Limited is offering a single Series 2026-1 Class A tranche of notes to investors, initially sized at $100 million. These notes will be sold and the proceeds used to collateralize a reinsurance agreement between the issuer and People’s Trust. The $100 million of notes will provide People’s Trust with a three-year source of fully-collateralized Florida named storm reinsurance protection, running from June this year. The coverage from this GWS Re Series 2026-1 cat bond will be structured on an indemnity trigger and per-occurrence basis for the sponsor. The currently $100 million of GWS Re Series 2026-1 Class A notes would attach their coverage at $195 million and exhaust it at $295 million, we are told. The notes come with an initial attachment probability of 2.52%, an initial base expected loss of 1.88% and they are being offered to cat bond investors with price guidance for a risk interest spread in a range from 6% to 6.75%, we have been told. View all of our Artemis Live video interviews and subscribe to our podcast. All of our Artemis Live insurance-linked securities (ILS), catastrophe bonds and reinsurance video content and video interviews can be accessed online. Our Artemis Live podcast can be subscribed to using the typical podcast services providers, including Apple, Google, Spotify and more.
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