$200m cat bond for Japan typhoon coverage
Created: Mar 16, 2016 08:00 AM
Extra coverage: the Akibare cat bond will provide $200 million of reinsurance protection for Japanese typhoons
A new $200 million catastrophe bond has been admitted to the Bermuda Stock Exchange listings.
The Akibare Re bond is sponsored by Mitsui Sumitomo Insurance Co and is the third in a series.
All three were set up to provide Japanese typhoon reinsurance protection.
The previous cat bond, which matures at the end of this month, was worth $130 million.
The latest in the series upsized by nearly 15 per cent during pricing.
