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International

Japanese insurer completes annual aggregate of cat bond

March 22, 2016 Reprints

Japan's Mitsui Sumitomo Insurance Co. Ltd. has hailed the completion of the first annual aggregate of catastrophe bond Akibare Re Ltd. (Series 2016-1), reported Artemis.bm.

"Akibare Re 2016-1 is the first cat bond to provide protection against typhoon events in Japan on an annual aggregate basis," said Mitsui Sumitomo.

The insurer said that the Akibare Re 2016-1 cat bond provides it with a stable source of reinsurance protection over a four-year period.

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Japanese insurer completes annual aggregate of cat bond

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