Third cat bond of the year was larger than expected

US insurer Liberty Mutual has sold a $225m catastrophe bond, Reuters reports. This was increased from the planned $200m.

The three-year deal, issued via special purpose vehicle Mystic Re II, was placed privately with institutional investors. It takes year-to-date supply in the sector to $575m.

Arranged and structured by Goldman Sachs and Swiss Re, the bond pays a coupon of 12 percentage points over three-month Libor. The deal is expected to settle on Friday.

Liberty Syndicates in London announced three appointments:

  • David Sankey as its marine liability underwriter
  • Mike Burle as class underwriter for terrorism, specie and fine art
  • Thomas White as the underwriter for global financial risks

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The 2025 Insurance Times Awards took place on the evening of Wednesday 3rd December in the iconic Great Room of London’s Grosvenor House.

Hosted by comedian and actor Tom Allen, 34 Gold, 23 Silver and 22 Bronze awards were handed out across an amazing 34 categories recognising brilliance and innovation right across the breadth of UK general insurance.
Many congratulations to all the worthy winners and as always, huge thanks to our sponsors for their support and our judges for their expertise.

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