Nakama Re Ltd. Series 2013-1

Zenkyoren, the Japanese National Mutual Insurance Federation of Agricultural Cooperatives, has successfully secured $300m of earthquake reinsurance protection with the completion of its latest catastrophe bond transaction, Nakama Re Ltd. (Series 2013-1).

The latest Japanese earthquake catastrophe bond to come to market for Zenkyoren, the Japanese National Mutual Insurance Federation of Agricultural Cooperatives, has doubled in size due to investor demand. Nakama Re Ltd. (Series 2013-1) launched at $150m in size but is expected to close offering $300m of protection to Zenkyoren.

Zenkyoren, the Japanese National Mutual Insurance Federation of Agricultural Cooperatives, is once again returning to the catastrophe bond market to expand its reinsurance protection for Japanese earthquake risks, with a new cat bond called Nakama Re Ltd. (Series 2013-1), we understand.