north carolina

The catastrophe bond being issued by Munich Re under the Cayman Islands based SPV named Johnston Re Ltd. on behalf of the North Carolina Joint Underwriting Association and the North Carolina Insurance Underwriting Association has now completed. In a sign of investor confidence the deal upsized significantly and completed at $305m.

Munich Re is placing a new catastrophe bond deal under the newly formed Cayman Islands based SPV Johnston Re Ltd. Johnston Re is being placed on behalf of the two North Carolina based non-profit organisations which have insurance companies as their members, the North Carolina Joint Underwriting Association and the North Carolina Insurance Underwriting Association. […]