Japanese insurer completes annual aggregate of cat bond
Posted On: Mar. 22, 2016 12:00 AM CSTJapan'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.