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Montana Re issue reaches $175m

BERMUDIAN reinsurer Flagstone Reinsurance Holdings said Monday that its Flagstone Réassurance Suisse unit has acquired three years of retrocessional cover for a range of perils from the issuance of $175m in catastrophe bonds by Cayman Islands-based special purpose vehicle Montana Re Ltd, which was established as a programme structure that in future may issue additional series of notes on behalf of Flagstone.

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