The use of parametric triggers in catastrophe bonds are the best path to a sustainable, lower cost of capital and towards realising the vision of the cat bond as a robust asset class, Samir Shah, Head of Capital Markets and Catastrophe Risk at AIG, told Artemis.
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U.S. primary insurer AIG and its affiliate companies are set to benefit from a new $300m source of fully-collateralized parametric reinsurance cover, after its Compass Re II Ltd. (Series 2015-1) catastrophe bond upsized by 50% to $300m.
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Rating agency Fitch has provided some more detail and background information on U.S. primary insurer AIG’s latest catastrophe bond, the $200m Compass Re II Ltd. (Series 2015-1) deal which launched earlier this week.
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Global insurance firm American International Group (AIG) is back in the catastrophe bond market with a Compass Re II Ltd. (Series 2015-1) deal, seeking U.S. wind reinsurance protection on a parametric trigger basis over a six month term.
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