Atlas IX Capital DAC (Series 2016-1)

French reinsurance company SCOR said that the $300 million size of its recently completed Atlas IX Capital DAC (Series 2016-1) catastrophe bond, which replaced a $60 million tranche of a matured cat bond, reflects the firms increased presence in the U.S. catastrophe risk market.

French reinsurance firm SCOR has seen its latest catastrophe bond, Atlas IX Capital DAC (Series 2016-1), grow by 20% during marketing to reach $300 million in size, while at the same time the pricing has been moved to the top end of initial spread guidance.

French reinsurance company SCOR has returned to sponsor another catastrophe bond issuance, seeking to expand its capital markets backed sources of retrocessional reinsurance with a $250m or greater Atlas IX Capital DAC (Series 2016-1) U.S. wind and earthquake issuance.