DREWCAT Capital Ltd.

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DREWCAT Capital Ltd. – At a glance:

  • Issuer: DREWCAT Capital Ltd.
  • Cedent / sponsor: Dominion Resources
  • Placement / structuring agent/s: ?
  • Risk modelling / calculation agents etc: EQECAT
  • Risks / perils covered: U.S. hurricane
  • Size: $50m
  • Trigger type: Parametric index
  • Ratings: ?
  • Date of issue: Jun 2006

DREWCAT Capital Ltd. – Full details:

The first catastrophe bond of the year to be issued by a non-insurance company. DREWCAT was issued by Dominion Resources a U.S. energy and gas company. The notes are structured in a single tranche and designed to protect Dominion against Gulf of Mexico. hurricane risks threatening it’s platforms and installations.

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