Pool aims for up to $200 million of reinsurance protection from new quake cat bond
Posted On: Aug. 10, 2015 12:00 AM CSTThe Turkish Catastrophe Insurance Pool is targeting up to $200 million of collateralized earthquake reinsurance protection from its new Bosphorus Ltd. (Series 2015-1) parametric catastrophe bond, Artemis.bm reported.
The bond is the second parametric earthquake cat bond that was launched in July with a minimum size of $100 million. Even at $200 million, this new cat bond will only replace half of the pool's Bosphorus 1 Re deal when it matures in 2016, Artemis.bm reports.