Google

Google and its holding company parent Alphabet, Inc. have now successfully secured $275.5 million of California earthquake risk protection from their new catastrophe bond, the Phoenician Re Ltd. (Series 2021-1) issuance.

Google’s holding company parent Alphabet, Inc. is hoping to upsize its third catastrophe bond transaction to provide it with as much as $285 million of California earthquake risk protection from the Phoenician Re Ltd. (Series 2021-1) issuance.

Google’s holding company parent Alphabet, Inc. has returned to the catastrophe bond market for the third time, as it seeks to add another $250 million or more of California earthquake risk protection to its insurance arrangements with the help of insurance-linked securities (ILS) investors in a Phoenician Re Ltd. (Series 2021-1) issuance.

The second catastrophe bond issuance from Alphabet, Inc., the holding company for tech giant Google and its units, has now been priced and the coupon for the $95 million Phoenician Re Ltd. (Series 2020-2) transaction has been fixed above the mid-point of guidance.

Alphabet, Inc., the holding company for tech giant Google and its units, has returned to the catastrophe bond market in very quick succession to add a second $95 million Phoenician Re Ltd. (Series 2020-2) transaction, clearly pleased with the pricing and execution of its first.

The first catastrophe bond to be sponsored directly for the benefit of Alphabet, Inc., the holding company for Google and its many units, has now been priced on-target at the mid-point of guidance, while the Phoenician Re Ltd. (Series 2020-1)  cat bond transaction will close at the same $237.5 million size it launched at.

Alphabet, Inc., the holding company for Google and its many units, has entered the catastrophe bond market for the first time, as the technology giant seeks $237.5 million of earthquake insurance protection that will be fully collateralized through the issuance of a Phoenician Re Ltd. (Series 2020-1)  cat bond transaction to capital market investors.