Alpha Terra Validus I

The $5 million Alpha Terra Validus I private catastrophe bond transaction, completed recently by AlphaCat Managers Ltd. the third-party reinsurance capital unit of Validus, features Latin American risks from cedent Terra Brasis Resseguros S.A. (Terra Brasis Re).

AlphaCat Managers, the insurance and reinsurance linked investment unit of Validus Group has completed a $5 million Alpha Terra Validus I private catastrophe bond transaction, which we understand is designed to source risk in securitised form for one of its mandates.