Artex SAC Limited - Series GX Notes

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Artex SAC Limited - Series GX Notes - At a glance:

  • Issuer / SPV: Artex SAC Limited - Series GX Notes
  • Cedent / Sponsor: Unknown
  • Placement / structuring agent/s: Unknown
  • Risk modelling / calculation agents etc: Unknown
  • Risks / Perils covered: Property catastrophe risks
  • Size: $50.228m
  • Trigger type: Unknown
  • Ratings: NR
  • Date of issue: Dec 2017

Artex SAC Limited - Series GX Notes - Full details

A new private catastrophe bond issuance (or cat bond lite) has completed and listed in Bermuda using the Artex SAC Limited Note Program II. $50.228 million of Artex SAC Limited – Series GX Notes were listed on the Bermuda Stock Exchange (BSX).

This Series GX transaction consisting of $50.228 million of notes have been issued by the Artex SAC Limited vehicle using the ILS Note Program II and a GX Notes segregated account. The notes have been placed with qualified investors and listed on the Bermuda Stock Exchange (BSX) as insurance related securities, with a due date of April 5th 2019.

Typically these private cat bond transactions from the Artex platform involve peak property catastrophe reinsurance perils (often U.S.), with a cedent and investor opting to use a private ILS structure to securitise the risks into investable form, and usually feature triggers based either on an industry loss or an indemnity structure basis.




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