Akibare Re Ltd. (Series 2016-1)

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Akibare Re 2016-1 cat bond set for 100% loss of $200m principal

Mitsui Sumitomo Insurance has raised its estimate of losses from Japanese typhoons that struck in 2018, which has driven the qualifying aggregate loss amount under the terms of its $200 million catastrophe bond Akibare Re Ltd. (Series 2016-1) over the exhaustion point.As a result, it's now expected that the $200 read the full article →

Rising typhoon Jebi loss sees Akibare 2016-1 cat bond price plummet

Increasing industry and cedant loss expectations for typhoon Jebi have resulted in another over 50% decline in secondary pricing for the Mitsui Sumitomo Insurance sponsored $200 million catastrophe bond Akibare Re Ltd. (Series 2016-1).This catastrophe bond provides Mitsui Sumitomo with a source of collateralized annual aggregate reinsurance, backed by the read the full article →

Akibare 2016-1 cat bond priced for potential loss on typhoon claims

Mitsui Sumitomo Insurance Co. Ltd's $200 million catastrophe bond Akibare Re Ltd. (Series 2016-1) has been priced down as cat bond investors suspect it faces a potential loss of some principal, as the sponsoring insurers claims from typhoons including Jebi keep rising.The catastrophe bond provides Mitsui Sumitomo with a source read the full article →

Mitsui Sumitomo hails first aggregate Japan typhoon-only cat bond

Japanese insurance group Mitsui Sumitomo Insurance Co. Ltd., a subsidiary of MS&AD Insurance Group Holdings, has hailed the completion of the first annual aggregate Japan typhoon-only catastrophe bond, its recently sponsored Akibare Re Ltd. (Series 2016-1) deal.Mitsui Sumitomo explained that the Akibare Re 2016-1 cat bond provides it with a read the full article →

Mitsui’s Akibare Re 2016 cat bond grows to $200m, pricing drops

The latest catastrophe bond from sponsoring Japanese insurance group Mitsui Sumitomo has grown in size to $200 million, while pricing on the Akibare Re Ltd. (Series 2016-1) issuance has dropped to the low-end of guidance.Mitsui Sumitomo Insurance Co. Ltd., a subsidiary of MS&AD Insurance Group Holdings, is set to secure read the full article →

Mitsui Sumitomo in Akibare Re 2016, $175m Japan typhoon cat bond

Japanese insurance group Mitsui Sumitomo Insurance Co. Ltd., a subsidiary of MS&AD Insurance Group Holdings, is returning to the catastrophe bond market with Akibare Re Ltd. (Series 2016-1) issuance, seeking $175m of Japan typhoon reinsurance protection.This is the third Akibare named catastrophe bond transaction from Mitsui Sumitomo, following the Akibare read the full article →