Cascadia Ltd.

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Cascadia Ltd. – At a glance:

  • Issuer: Cascadia Ltd.
  • Cedent / sponsor: FM Global
  • Placement / structuring agent/s: Goldman Sachs served as lead manager
  • Risk modelling / calculation agents etc: ?
  • Risks / perils covered: U.S. earthquake
  • Size: $300m
  • Trigger type: Parametric
  • Ratings: S&P: 'BB+'
  • Date of issue: Jun 2005

Cascadia Ltd. – Full details:

Commercial and industrial property insurer FM Global has announced the private placement of a US$300 million catastrophe bond to protect against the consequences of unusual earthquake activity in the Pacific Northwest region of the United States and Canada.

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