Kane SAC Limited – Hereford – Full details:
This private cat bond transaction was issued through the Kane SAC Limited Note Program and was listed on the Bermuda Stock Exchange for secondary liquidity or investor mandate purposes.
The Hereford Segregated Account has issued $16.82m of notes to investors to collateralize an underlying property catastrophe reinsurance contract.
The notes provide protection for U.S. property catastrophe risks and are triggered on an industry loss basis.
These notes mature on the 12th January 2016.