Terra Brasis Re renews its LatAm cat bond via AlphaCat
Brazilian reinsurer Terra Brasis Resseguros has renewed a cat bond that provides it with protection against certain types of property-catastrophe risk in Latin America on an indemnity basis.
Alpha Terra Validus II, a $5 million private catastrophe bond transaction, was underwritten and invested by AlphaCat Managers, a subsidiary of Bermuda-based Validus Holdings. The deal renews the 2017 Terra Brasis Validus I transaction.
The renewal transaction has also been issued through a segregated account of White Rock Insurance (SAC), which is managed by Aon Insurance Managers, Bermuda. The notes were admitted to the Bermuda Stock Exchange as of Jan. 15, 2018 and will remain listed there until maturity.
Lixin Zeng, the CEO of AlphaCat, said: “We are pleased to continue our successful partnership with Terra Brasis Re and look forward to working together in the future.”
Rodrigo Botti, director of Terra Brasis Re, added: “ILS based solutions are gaining momentum in Latin America, with recent issuances of different size and scope. We are pleased that our close partnership with AlphaCat continues to contribute to the development of this technology in the region.”
Join us at Intelligent Automation in Insurance - London 2018. Spring Special: Book before the March 31st and save £200.
More of today's news
Sompo poaches two to launch new specialty unit in Europe
Channel and Canopius join Liberty to back $27bn consortium
JLT's new cyber policy targets coverage ‘gaps’ in airline industry
Where are the robot underwriters? New report shines spotlight on the true potential of automation
Willis Towers Watson appoints COO of corporate risk and broking
Munich Re bolsters US property and casualty executive board
VIPR and ACORD partner on breakthrough in processing of bordereaux reports
Already registered?
Login to your account
If you don't have a login or your access has expired, you will need to purchase a subscription to gain access to this article, including all our online content.
For more information on individual annual subscriptions for full paid access and corporate subscription options please contact us.
To request a FREE 2-week trial subscription, please signup.
NOTE - this can take up to 48hrs to be approved.
For multi-user price options, or to check if your company has an existing subscription that we can add you to for FREE, please email Elliot Field at efield@newtonmedia.co.uk or Adrian Tapping at atapping@newtonmedia.co.uk
Editor's picks
Editor's picks
More articles
Copyright © intelligentinsurer.com 2024 | Headless Content Management with Blaze