Natixis successfully lead managed the placement of $180 million catastrophe bonds for SCOR Global Life SE
Natixis successfully lead managed, as joint bookrunner, the placement of $180 million extreme mortality catastrophe bonds issued by Atlas IX Capital Limited, an Irish private limited company. Thus, Natixis has been involved in the three last catastrophe bonds issued by SCOR under its Atlas programs.
This transaction provides SCOR Global Life SE, a subsidiary of SCOR SE, with $180 million protection against extreme mortality events in the United States from January 1, 2013 to December 31, 2018. The very low attachment point of this protection is a first in this market.
The strong current appetite from investors for this transaction type not only allowed optimizing the final spread proposed to investors but also increasing significantly the global size of the transaction to reach $180 million.
This new transaction is an additional key step of Natixis’ product range development for its client base of insurers and reinsurers, and strengthens the position of Natixis on the catastrophe bond market.