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AIG resets Tradewynd Re (Series 2014-1) cat bond at higher attachment probability

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Insurer American International Group Inc. has reset its Tradewynd Re Ltd. (Series 2014-1) catastrophe bond at a slightly higher probability of attachment for the risk period runing from Jan. 1, 2016 to Dec. 31, 2016, reports Artemis.bm.

The $500 million, triple tranche catastrophe bond provides the insurer with collateralized reinsurance protection against certain losses from U.S., Canada, Mexico, Caribbean, Gulf of Mexico and D.C. named storms, as well as U.S., Canada, Mexico, Caribbean and D.C. earthquakes events.

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