Atlas Capital DAC Series 2024-1

In commenting on the recent successful issuance of a $175 million Atlas Capital DAC (Series 2024-1) catastrophe bond, the second from that Irish special purpose vehicle, SCOR’s CFO and Deputy CEO François de Varenne has highlighted the “efficiency gains made.”

French global reinsurance company SCOR has now successfully upsized its latest catastrophe bond by 40% to secure $175 million of retrocession from the Atlas Capital DAC (Series 2024-1) deal, while the pricing settled just above initial guidance, showing the risk adjustments made appear to have had the desired effect.

Artemis has learned that French reinsurance company SCOR has adjusted some terms of its new Atlas Capital DAC (Series 2024-1) catastrophe bond issuance, as the company has reduced the risk somewhat in an effort to manage pricing, while also lifting the target size to $175 million.

France-headquartered global reinsurance company SCOR is back in the catastrophe bond market in search of more peak catastrophe peril retrocession, looking to secure $125 million or more in North America focused coverage from an Atlas Capital DAC (Series 2024-1) issuance.