MS&AD upsizes Tomoni Re cat bond

Japan-based MS&AD Insurance Group Holdings Inc. has upsized the Tomoni Re Pte Ltd. (Series 2024-1) catastrophe bond to now seek up to $200 million of multi-year and multi-peril Japanese catastrophe reinsurance protection for its two main insurance carriers in the country, Artemis reported. The Singapore-based Tomoni Re Pte Ltd. will protect Aioi Nissay Dowa Insurance Co., Ltd. and Mitsui Sumitomo Insurance Co. Ltd. against Japanese typhoons and floods.