Home›Insurance›Industry & Deals›Nascent Re issues $23.5m preferred shares via Telford…

Nascent Re issues $23.5m preferred shares via Telford ILS vehicle

The Telford preferred shares, privately placed with qualifying investors, mature on December 15, 2026 after listing on the Bermuda Stock Exchange.

Reported · Written up by our desk · Industry & Deals

Nascent Re Ltd., a Bermuda-based reinsurance transformer owned and operated by Nascent Group, has issued $23.5 million of preferred shares through a segregated account named Telford, marking its second private insurance-linked securities, or ILS, arrangement.

The Telford tranche has been privately placed with qualifying investors and has since been listed on the Bermuda Stock Exchange (BSX). The preferred shares are due to mature on December 15, 2026.

Nascent Group said the company’s structure is used by re and insurers and investors to transact reinsurance on a collateralized basis, supported by a managed risk transformation platform. The vehicle is designed to match reinsurance and retrocessional risk and capital between sponsors and investors or ILS fund managers.

While the underlying reinsurance or retrocessional arrangement is not detailed, preferred shares are often associated with quota share or sidecar-style structures rather than private cat bonds, which are more commonly excess-of-loss. The transaction has been listed on the BSX, even though its specific risk structure was not confirmed.

More like this

Sources