Typhoon Jebi-related losses hit cat bond pricing
Posted On: Apr. 10, 2019 6:13 AM CST
Pricing of Japan-based Mitsui Sumitomo Insurance Co. Ltd.'s catastrophe bond plummeted 50% due to increasing reinsurance claims related to typhoon Jebi, Artemis.bm reports. The $200-million cat bond provides Mitsui Sumitomo with collateralized reinsurance, covering typhoon-related losses in Japan. Typhoon Jebi caused an estimated $12.5 billion in insured losses.