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.