Natixis successfully placed $60 million and €130 million catastrophe bonds for SCOR Global P&C SE
Natixis successfully placed, as bookrunner, $60 million and €130 million catastrophe bonds issued by Atlas Reinsurance VII Limited, an Irish special purpose reinsurance company. This transaction follows the three issuances carried out under the Atlas VI Capital Limited program for the benefit of SCOR Global P&C SE between 2009 and 2011.
This transaction provides SCOR Global P&C SE with $60 million protection against hurricanes and earthquakes in the United States and with €130 million protection against windstorms in Europe from January 1, 2013 to December 31, 2015.
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 an equivalent of €176 million.
This new transaction in the risk transfer area for its client base of insurers and reinsurers reinforces the leadership of Natixis on the Euro catastrophe bond market since 2011.