Property and casualty insurance holding company, Kingstone Companies, Inc., has announced the successful issuance of a $125 million catastrophe bond, 1886 Re Ltd. (Series 2025-1), the first to Rule 144A deal for sponsor Kingstone Insurance Company, and which provides the firm with a four year source of US named storm reinsurance protection.

This marks a milestone in the company’s strategic risk transfer and capital management initiatives.

The notes were structured and placed by Aon Securities LLC and will cover four annual risk periods from July 1st, 2025, through June 30th, 2029.

The Series 2025-1 notes were priced at 4.5% and issued through a Bermuda-registered special purpose insurer, 1886 Re Ltd., and offer multi-year protection against named storm events across New York, New Jersey, Connecticut, Massachusetts, and Rhode Island on an indemnity trigger and per-occurrence basis.

Meryl Golden, President and Chief Executive Officer (CEO) of Kingstone, stated, “We are pleased to have sponsored this catastrophe bond issuance, which enhances our access to efficient, diversified capital.

“This transaction has enabled the Company to secure additional multi-year reinsurance capacity while also helping to manage the overall cost of protection.

“We are thankful to Aon Securities for their effective execution of the process and to our catastrophe bond investors for their support.”

Richard Pennay, CEO of Aon Securities LLC, said, “Aon Securities is honoured to have partnered with Kingstone on their inaugural catastrophe bond, issued by 1886 Re Ltd.

“The support Kingstone received from the global catastrophe bond investor base is a tribute to the company and management team. With this offering, Kingstone has demonstrated its ability to access a diversifying source of risk-transfer protection.”

You can read the full details of 1886 Re Ltd. and hundreds of other cat bonds on our sister publication, Artemis’ Deal Directory.

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