Covea sponsors $132 million cat bond
Posted On: Nov. 15, 2019 4:56 AM CSTFrench insurer Covea Mutual Insurance Group Co. has sponsored a €120 million ($132 million) catastrophe bond transaction to strengthen its access to global capital markets as a source of reinsurance, Artemis reports. Starting Jan. 1, the cat bond will provide the mutual insurer with reinsurance protection against certain storm risks and other weather events in France.