Tokio Marine returns with new $100m Kizuna Re quake cat bond using SDB

Japanese insurance giant Tokio Marine Holdings has returned to the cat bond market with the issuance of a $100 million Kizuna Re III Series 2024-1 transaction, which is being issued out of Singapore, providing the company with collateralised reinsurance protection against earthquake risks Japan. It has become the first Japanese carrier to make use of SOFR-Based World Bank Sustainable Development Bond.