Artex SAC Limited – Series DX Notes – Full details:
A new private catastrophe bond issuance has completed and listed in Bermuda using the Artex SAC Limited Note Program II. $50.227 million of Artex SAC Limited – Series DX Notes were listed on the Bermuda Stock Exchange (BSX).
This DX transaction consisting of $50.227 million of notes have been issued by Artex SAC Limited using the ILS Note Program II and a DX Notes segregated account. The notes have been placed with qualified investors and listed on the Bermuda Stock Exchange (BSX) as insurance related securities, with a due date of April 6th 2018.
Typically these private cat bond transactions involve peak property catastrophe reinsurance perils (often U.S.) and feature triggers based either on an industry loss or an indemnity structure basis.
———————————————————————
Alongside our sister publication Reinsurance News, we’ve launched a new survey for the insurance, reinsurance and insurance-linked securities (ILS) industry, asking for your opinion on the market implications of the Covid-19 coronavirus pandemic. Answer our survey here.
Read Covid-19 coronavirus related news & analysis here.
