Artex SAC Limited – Series EX Notes – Full details:
A new private catastrophe bond issuance (or cat bond lite) has completed and listed in Bermuda using the Artex SAC Limited Note Program II. $8.311 million of Artex SAC Limited – Series EX Notes were listed on the Bermuda Stock Exchange (BSX).
This EX transaction consisting of $8.311 million of notes have been issued by the Artex SAC Limited vehicle using the ILS Note Program II and an EX 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 June 8th 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.