Mangrove Property Insurance Secures $111M Reinsurance via Buttonwood Re Cat Bond

Deal Summary

Mangrove Property Insurance has completed an upsized $111 million catastrophe bond issuance with Buttonwood Re Ltd., securing $75 million of per-occurrence and $36 million of annual aggregate reinsurance protection for Florida named storms. All four tranches priced at the low end of guidance, finalising the capital markets-backed reinsurance financing.