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Mangrove locks record 2026 hurricane cat reinsurance, adds $111m bond
The program covers both frequency and severity of catastrophe events, including protection tied to a 1-in-175-year storm and aggregate cover for third and fourth events.
Mangrove Property Insurance Company has secured a record catastrophe reinsurance programme for the 2026 Atlantic Hurricane Season, designed to protect against both the frequency and severity of catastrophe events, with coverage extending to a 1-in-175-year storm, Reinsurance News said.
The programme also includes aggregate cover for protection against third and fourth catastrophe events and features the placement of a $111m catastrophe bond, according to the outlet.
Mangrove said the new structure exceeds all state regulatory and rating agency requirements and is backed by leading global reinsurance players, with substantial capacity provided by more than 30 of the world’s largest and strongest reinsurers.
The company also pointed to its long term risk management approach, including the establishment of Grove Re Ltd., a Bermuda-domiciled Class 3A insurance company, which it said supports its underwriting strategy and its focus on Florida.