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International

Turkish catastrophe pool benefits from completion of Bosphorus 1 Re cat bond

April 30, 2013 Reprints

The Turkish Catastrophe Insurance Pool has completed its Bosphorus 1 Re Ltd. catastrophe bond transaction, thereby securing a $400 million layer of earthquake reinsurance protection, reports Artemis.bm.

Through this cat bond, TCIP will receive a three-year source of fully-collateralized, parametric reinsurance coverage against Turkish quakes.

Coverage is on a per-occurrence basis. The cat bond had increased by 300% in size during its marketing period, Artemis.bm reported.

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Turkish catastrophe pool benefits from completion of Bosphorus 1 Re cat bond

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