USAA is planning to issue another $280 million of catastrophe bonds through its Residential Re platform.

Standard & Poor’s expects to assign B- and B ratings to the Series 2016-II class 3 and 4 notes, respectively, which cover losses in all 50 states and the District of Columbia from tropical cyclones (including flood coverage for renters policies), earthquakes (including fire following), severe thunderstorms, winter storms, wildfires, as well as more remote risks, such as volcanic eruption, meteorite impact, and other perils.

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