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RMS helped TCIP improve transparency of Bosphorus cat bond trigger

Leading catastrophe risk modelling firm RMS, has again provided comprehensive risk analysis for the Turkish Catastrophe Insurance Pool’s (TCIP) parametric earthquake cat bond, Bosphorus (Series 2015-1), further improving the transactions transparency this time around.“After the positive outcome of the Bosphorus 1 Re transaction in 2013, TCIP and RMS collaborated once read the full article →

After Bosphorus success, TCIP to continue using capital markets & ILS

Following the recent successful completion of the $100m Bosphorus Ltd. (Series 2015-1) parametric Turkish earthquake catastrophe bond, the Turkish Catastrophe Insurance Pool (TCIP) intends to continue to build its relationship with the capital markets."In view of the constantly growing portfolio of TCIP, our cooperation with the capital markets will continue read the full article →

Bosphorus 2015-1 cat bond set at $100m for TCIP, prices at low-end

The Turkish Catastrophe Insurance Pool's (TCIP) new Bosphorus Ltd. (Series 2015-1) parametric Turkish earthquake catastrophe bond is set to complete at just $100m in size, while the pricing has been set at the low-end of the revised guidance.The second Bosphorus cat bond from the TCIP will provide the insurer with read the full article →

TCIP targets up to $200m with Bosphorus 2015-1 cat bond

The Turkish Catastrophe Insurance Pool (TCIP) is aiming for up to $200m of collateralized Turkish earthquake reinsurance protection from its new Bosphorus Ltd. (Series 2015-1) parametric catastrophe bond.The second parametric quake cat bond from TCIP launched with a minimum size of $100m in July. It's now understood that the earthquake and read the full article →

Bosphorus 2015-1 parametric Turkish quake cat bond launched for TCIP

The Turkish Catastrophe Insurance Pool (TCIP) is returning to the catastrophe bond market for an anticipated second earthquake deal, with another parametric trigger structure under a Bosphorus Ltd. (Series 2015-1) transaction.For its second catastrophe bond the Turkish Catastrophe Insurance Pool (TCIP, which is managed by Eureko Sigorta A.Ş., has registered a read the full article →

Turkish earthquake to grow as an ILS peril as insurance penetration rises

Earthquake insurance penetration in Turkey has risen strongly since the imposition of a law which made having a policy mandatory and has now reached 37%, according to data from the Turkish Insurance Association.In 2012 a law regarding catastrophe insurance coverage came into force which mandated that in order to access read the full article →

Turkish quake cat bond issuer changes name to Bosphorus Re

The issuing special purpose reinsurance vehicle of the first Turkish earthquake linked catastrophe bond Bosphorus 1 Re Ltd. has changed its official company name to Bosphorus Re Ltd., according to a Bermuda Stock Exchange announcement.The Bosphorus catastrophe bond was issued on behalf of the Turkish Catastrophe Insurance Pool (TCIP) as read the full article →

TCIP will look to issue more Turkish earthquake catastrophe bonds

The Turkish Catastrophe Insurance Pool (TCIP), is likely to look to the catastrophe bond market again as it explores options to increase the amount of capacity it can provide in the event of a major earthquake striking Turkey, according to the chairman of its board.The TCIP, which acts as the read the full article →

Bosphorus catastrophe bond a real success story, says Turkish cat pool

As we wrote earlier this week, the Bosphorus 1 Re Ltd. catastrophe bond completed recently, successfully securing its sponsor the Turkish Catastrophe Insurance Pool (TCIP) a source of fully-collateralized, multi-year reinsurance protection against Turkish earthquake risks using a parametric trigger. Now the usual press releases on the deals completion have read the full article →

Bosphorus 1 Re catastrophe bond completes, rated, lists on BSX

The Turkish Catastrophe Insurance Pool (TCIP) now benefits from a $400m layer of fully-collateralized, parametric earthquake reinsurance protection thanks to the completion of its Bosphorus 1 Re Ltd. catastrophe bond on Friday. The deal, which increased in size by 300% from $100m to the $400m it settled at is the read the full article →