SCOR has announced that its latest foray into the insurance-linked securities market Atlas VI Capital Ltd. has closed successfully. Atlas VI provides SCOR with €75m of protection against certain European windstorms and Japanese earthquakes.
They say the issue was ‘significantly oversubscribed’ which is yet another sign of the investor interest the cat bond market is seeing. In the case of Atlas VI this is not at all surprising as it is a great chance for investors to diversify their catastrophe-linked portfolio away from the usual U.S. hurricane risks. The issue closed on 9th December and will run until 31st March 2013.
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