Sompo aims to raise $200 million from multi-peril cat bond

Insurer Sompo Japan Insurance Inc. is seeking $200 million from its Japanese and U.S. multi-peril catastrophe bond, Artemis reported. A newly-registered Bermuda-based insurer Sakura Re Ltd. will issue two tranches of notes that will be sold to catastrophe bond investors and the proceeds used to collateralize reinsurance deal to offer Sompo with a multi-peril, multi-region coverage.

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