Windmill I Re Ltd

The recently completed €40 million Windmill I Re Ltd. (Series 2017-1) catastrophe bond transaction is the first to use a European windstorm risk model from Aon Benfield’s risk modelling centre of excellence Impact Forecasting.

Dutch group reinsurer Achmea Reinsurance Company, part of the Achmea Group of re/insurance companies, has returned to the catastrophe bond market for its second catastrophe bond transaction, with a €40 million Windmill I Re Ltd. (Series 2017-1) deal that completed just before the end of June.

Aon Benfield Securities, the capital markets unit of the reinsurance broker, has announced its role in what it calls the streamlined issuance of the first European windstorm catastrophe bond to use an indemnity trigger, the Windmill I Re Ltd. transaction.

Artemis understands that Dutch group reinsurer Achmea Reinsurance Company, part of the Dutch Achmea Group, has sponsored its first catastrophe bond, in a privately transacted Dutch windstorm deal, through Bermuda SPI Windmill I Re Ltd.