Tokio Marine's increases its reinsurance cat bond 40%
Posted On: Mar. 20, 2015 12:00 AM CSTSources have said that Japan's Tokio Marine & Nichido Fire Insurance Co. Ltd. 2015 recent cat bond sale had 40% more uptake than originally anticipated, reported Artemis.bm.
Proceeds from the sale of its Kizuna Re II Ltd. (Series 2015-1) cat bond will be 35 billion Japanese yen ($291.5 million). Strong investor demand boosted thes ale of the bond, which had an original size of JPY 25 billion.