Kizuna Re II Ltd

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Tokio Marine redeems all $200m of its Kizuna Re II 2018 cat bond

A fortnight ago we reported that Japanese insurance group Tokio Marine was set to redeem a $150 million tranche of its Kizuna Re II Ltd. (Series 2018-1) Japan earthquake focused catastrophe bond, as the notes had not faced any loss events in the three years since their issue. That would have read the full article →

Tokio Marine to redeem $150m of its Kizuna II 2018 cat bond

Sources have told us that Japanese insurance group Tokio Marine has opted to redeem a $150 million tranche of its Kizuna Re II Ltd. (Series 2018-1) Japan earthquake focused catastrophe bond, as the notes have not faced any loss events in the three years since their issue. At the time of read the full article →

Tokio Marine’s Kizuna Re cat bond pricing drops

The latest catastrophe bond from Japanese primary insurance group Tokio Marine & Nichido Fire Insurance Co. Ltd. has seen its pricing drop while being marketed, as the $200 million Kizuna Re II Ltd. (Series 2018-1) Japan earthquake transaction looks set to complete with one tranche at the mid-point and another read the full article →

Tokio Marine brings $200m Kizuna Re II 2018 Japan quake cat bond

Japanese primary insurance group Tokio Marine & Nichido Fire Insurance Co. Ltd. has returned to the catastrophe bond market for its latest issuance, a $200 million Kizuna Re II Ltd. (Series 2018-1) transaction that aims to secure a source of capital markets backed Japanese earthquake reinsurance protection for the sponsor. Tokio read the full article →

JPY denominated Kizuna Re II cat bond to be redeemed by Tokio Marine

Japanese primary insurance group Tokio Marine & Nichido Fire Insurance Co. Ltd. is to redeem its most recent catastrophe bond, the yen denominated JPY 35 billion, approximately $290m, Kizuna Re II Ltd. (Series 2015-1). The four-year term Japanese earthquake cat bond was the first to see its collateral assets invested in read the full article →

Tokio Marine’s Kizuna Re II 2015 cat bond upsizes by 40% to ~$290m

Japanese primary insurance group Tokio Marine & Nichido Fire Insurance Co. Ltd. will be delighted with its latest visit to the catastrophe bond market after sources said that its Kizuna Re II Ltd. (Series 2015-1) deal is set to increase in size to JPY 35 billion, approximately $290m. The cat bond launched read the full article →

Kizuna Re II 2015-1 first investment grade cat bond since 2008: S&P

Ratings agency Standard & Poor's has assigned an investment grade rating to a catastrophe bond for the first time since 2008, as the remote risk nature of the underlying Japanese earthquake risk helped the Kizuna Re II 2015-1 cat bond to a 'BBB- (sf)' preliminary rating assessment. The rating on a read the full article →

Tokio Marine sponsors $205m Kizuna Re II 2015 Japan quake cat bond

Japanese primary insurance group Tokio Marine & Nichido Fire Insurance Co. Ltd. is back with another catastrophe bond, Kizuna Re II Ltd. (Series 2015-1), seeking a $205m (JPY25 billion) source of reinsurance protection from the capital markets for Japanese earthquake risks. Last year Tokio Marine & Nichido Fire sponsored the $245m read the full article →

After Kizuna Re II, expect more Japanese catastrophe bonds: Moody’s

Credit rating agency Moody's said in a report that the recent completion of the Kizuna Re II Ltd. catastrophe bond is a credit positive event for sponsor Tokio Marine & Nichido Fire and could spur issuance of more Japanese cat bonds. Moody's notes that the Kizuna Re II catastrophe bond is read the full article →

Tokio Marine: Issuing Japan quake indemnity cat bond a challenge

Japanese insurer Tokio Marine & Nichido Fire’s reinsurance buyer expressed his pleasure at the completion of Kizuna Re II Ltd., but also acknowledged the difficulty faced in issuing commercial Japanese earthquake risk as an indemnity catastrophe bond. Aon Benfield Securities, the investment banking and capital markets advisory division of reinsurance broker read the full article →