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International

UnipolSai completes $223 million earthquake cat bond

August 14, 2015 Reprints

Italy-based insurer UnipolSai Assicurazioni S.p.A. has completed the €200 million ($223 million) Azzurro Re, the first catastrophe bond primarily for Italian earthquake risk, reported Reuters.

Azzurro Re was structured and placed by Willis Capital Markets & Advisory, a unit of Willis Group Holdings P.L.C. The cat bond will cover the Italian insurer for three-and-a half years. The bond has been supported by over 20 investors.

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UnipolSai completes $223 million earthquake cat bond

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