Kizuna Re II Ltd

Tokio Marine & Nichido Fire’s latest catastrophe bond transaction, Kizuna Re II Ltd. has completed with the lowest coupon Artemis has seen for a Japanese quake cat bond, but with a particularly high multiple compared to the expected loss.

Tokio Marine & Nichido Fire’s latest catastrophe bond transaction, Kizuna Re II Ltd. has been upsized to $245m before finally pricing at the lowest end of the already reduced range.

Price guidance on the notes issued in Japanese insurance group Tokio Marine & Nichido Fire’s latest catastrophe bond transaction, Kizuna Re II Ltd., has been lowered and the range tightened as the cat bond progresses to market.

Japanese insurance group Tokio Marine & Nichido Fire is returning to the capital markets for reinsurance protection with the launch of Kizuna Re II Ltd. the latest catastrophe bond transaction to be sponsored by the firm.