American Integrity's debut cat bond prices at lower end

Spreads for American Integrity Insurance Company's debut cat
bond Integrity Re 2017-1 settled at the lower end of revised
guidance, according to sources.
The final spreads on the deal's main layers came in 6 to 13
percent lower than the initial midpoint of forecasts, continuing a
trend for significant reductions during the marketing of new cat
bonds this year.
The three-year deal is divided into four tranches and covers
named storm events in Florida on an indemnity, per occurrence
cascading...