Advised Porch Group on debut $100m catastrophe bond

Our team was delighted to advise the Porch Group's two underwriting entities, Homeowners of America Insurance Company and Porch Insurance Reciprocal Exchange, on their first catastrophe (cat) bond issuance, a US$100m cat bond providing per-occurrence multi-peril coverage for four years on an indemnity trigger basis.

Our Bermuda office acted as Bermuda counsel on the establishment and licensing of Harbour Crest Re Ltd. as a special purpose insurer with the Bermuda Monetary Authority, covering exposure to named storms, winter storms, severe weather events, wildfire and fire-following earthquake events across the United States. 

We also acted as listing sponsor and Bermuda counsel for Harbour Crest Re Ltd. on the listing of the US$100m Series 2026-1 Class A Principal At-Risk Variable Rate Notes on the Bermuda Stock Exchange. 

The team comprised partners Nathalie West and Leonie Tear, senior counsel Joe Williams and associate Karina Skinner. Please visit the Artemis directory entry for more information.