The company is expected to make a further reinsurance recovery of around $98m from the remaining cat bond note principal
Fidelis due payout from Herbie Re cat bond after wildfires | | | Fidelis to get $98m from Herbie Re 2021-1 cat bond for CA wildfire, 2024 hurricane losses  Fidelis is set to benefit from a roughly $98 million additional retrocessional reinsurance recovery from its aggregate industry-index trigger Herbie Re Ltd. (Series 2021-1) catastrophe bond, as losses from the California wildfires, added to those from hurricanes Helene and Milton earlier in the risk period, have eaten into the remaining principal of these notes. Catastrophe bond investors will therefore play a role in supporting Fidelis' recovery from some of the major losses that impacted the industry in 2024 and 2025, just as they had done previously after the second risk period through the same catastrophe bond deal. Read the full story. | | | | | | Please share this with colleagues and friends if you think they would like to receive it.
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