Scor: successfully sponsors a $300m 'cat bond'
(CercleFinance.com) - SCOR this morning announced having successfully sponsored the Atlas Capital UK 2018 PLC “Cat” Bond “which will provide the Group with multi-year risk transfer capacity of USD 300 million to protect itself against named storms in the US, earthquakes in the US and Canada, and windstorms in Europe,” the reinsurer said.
The risk period for Atlas Capital UK 2018 will run from 1 June 2018, to 31 May 2022.
"With this transaction, SCOR becomes the first reinsurer to use the new UK ILS ('Insurance-Linked Securities') regime to issue a cat bond,” the group stated.
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The risk period for Atlas Capital UK 2018 will run from 1 June 2018, to 31 May 2022.
"With this transaction, SCOR becomes the first reinsurer to use the new UK ILS ('Insurance-Linked Securities') regime to issue a cat bond,” the group stated.
Copyright (c) 2018 CercleFinance.com. All rights reserved.