IAG issues its first cat bond for Australian risks
Posted On: Mar. 15, 2019 5:49 AM CST
Nick Hartry, an official at Insurance Australia Group Ltd., said that its recently issued $75 million Australia ($53 million) catastrophe bond provides a diversified form of reinsurance along with its traditional and collateralized arrangements, Artemis.bm reports. Mr. Hartry said that the expansion of the global cat bond market and favorable insurance-linked securities regulations in Singapore encouraged the insurer to sponsor its first cat bond transaction to cover Australian catastrophe risks.