Bosphorus 1 Re Ltd.

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Turkish earthquake to grow as an ILS peril as insurance penetration rises

Earthquake insurance penetration in Turkey has risen strongly since the imposition of a law which made having a policy mandatory and has now reached 37%, according to data from the Turkish Insurance Association.In 2012 a law regarding catastrophe insurance coverage came into force which mandated that in order to access read the full article →

Turkish quake cat bond issuer changes name to Bosphorus Re

The issuing special purpose reinsurance vehicle of the first Turkish earthquake linked catastrophe bond Bosphorus 1 Re Ltd. has changed its official company name to Bosphorus Re Ltd., according to a Bermuda Stock Exchange announcement.The Bosphorus catastrophe bond was issued on behalf of the Turkish Catastrophe Insurance Pool (TCIP) as read the full article →

S&P affirms rating on Bosphorus 1 Re Ltd. catastrophe bond

Standard & Poor’s (S&P) Ratings Services, the credit rating agency, has affirmed the rating on the Bosphorus 1 Re Ltd. Turkish earthquake catastrophe bond which was sponsored by the Turkish Catastrophe Insurance Pool a year ago.The $400m Bosphorus 1 Re cat bond, which provides the TCIP with a three read the full article →

TCIP will look to issue more Turkish earthquake catastrophe bonds

The Turkish Catastrophe Insurance Pool (TCIP), is likely to look to the catastrophe bond market again as it explores options to increase the amount of capacity it can provide in the event of a major earthquake striking Turkey, according to the chairman of its board.The TCIP, which acts as the read the full article →

Bosphorus catastrophe bond a real success story, says Turkish cat pool

As we wrote earlier this week, the Bosphorus 1 Re Ltd. catastrophe bond completed recently, successfully securing its sponsor the Turkish Catastrophe Insurance Pool (TCIP) a source of fully-collateralized, multi-year reinsurance protection against Turkish earthquake risks using a parametric trigger. Now the usual press releases on the deals completion have read the full article →

Bosphorus 1 Re catastrophe bond completes, rated, lists on BSX

The Turkish Catastrophe Insurance Pool (TCIP) now benefits from a $400m layer of fully-collateralized, parametric earthquake reinsurance protection thanks to the completion of its Bosphorus 1 Re Ltd. catastrophe bond on Friday. The deal, which increased in size by 300% from $100m to the $400m it settled at is the read the full article →

Turkey earthquake cat bond Bosphorus grows again to $400m

According to sources in the catastrophe bond community, investors have demonstrated their appetite for a true diversifying cat bond deal and have helped the Bosphorus 1 Re Ltd. parametric Turkish earthquake cat bond jump in size again to hit $400m. The Bosphorus 1 Re cat bond began as a $100m read the full article →

Bosphorus 1 Re cat bond upsizes to $250m, price guidance drops

It will be no surprise for our regular readers to learn that another catastrophe bond transaction has increased in size and seen its price guidance be reduced while the deal has been marketing. The latest cat bond to follow this trend is the Bosphorus 1 Re Ltd. parametric cat bond, read the full article →

Bosphorus 1 Re cat bond parametric trigger details emerge

As we reported on Monday, the latest catastrophe bond to come to market is a parametric transaction called Bosphorus 1 Re Ltd. which is being marketed on behalf of the Turkish Catastrophe Insurance Pool (TCIP). The Bosphorus Re cat bond brings investors an opportunity to diversify their portfolios in the read the full article →

Bosphorus 1 Re Turkish earthquake catastrophe bond comes to market

A new catastrophe bond has been presented to insurance-linked securities (ILS) investors and it will bring some welcome diversification to the market after the focus on U.S. perils in the 2013 cat bonds we've seen so far. This deal brings a rare peril to the market, Turkish earthquake risk. The read the full article →