Caelus Re cat bond targets $300mn

Nationwide Mutual Insurance Company is seeking to raise $300mn
from a new Caelus Re cat bond, according to sources.
This will help to replace the $320mn of cover the insurer had
from its Caelus Re III bond issued in 2013, which matured last
month, and will add to last year's $300mn Caelus Re IV
transaction.
As with its prior deals, Caelus Re V will cover US perils,
including named storm, earthquake, severe thunderstorm, winter
storm and wildfire, on an indemnity...