The Artemis Catastrophe Bond and Insurance-linked Securities Deal Directory aims to provide a one-stop resource for information on every cat bond and ILS transaction we hold information on. The content of this Deal Directory is provided as is and there will be some omissions. Help us to keep these cat bond and ILS transaction summaries up to date by contacting us if you see an error or omission that you can correct.
Pacific Re - At a glance:
- Issuer / SPV: Pacific Re
- Cedent / Sponsor: Yasuda Fire & Marine
- Placement / structuring agent/s: Aon Capital Markets structured the deal. Munich Re participated.
- Risk modelling / calculation agents etc: RMS
- Risks / Perils covered: Japan typhoon
- Size: $80m
- Trigger type: Indemnity
- Ratings: Moodys: 'Ba3'
- Date of issue: Jul 1998
Pacific Re - Full details
Coverage against Japanese typhoon-related losses. The notes have a dual trigger structure which can be triggered by either one large typhoon or two smaller, separate typhoons.
Multi-year structure with an option to convert the notes to cover a lower layer if a major catastrophe causes reinsurance prices to rise in the traditional market.
The notes priced at 370 points over LIBOR with an initial maturity of five years.
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