Kizuna Re III Pte. Ltd (Series 2024-1)

Tokio Marine Holdings, Inc., through its subsidiary Tokio Marine & Nichido Fire Insurance Co. Ltd., has become the first Japanese insurer to make use of a SOFR-based World Bank Sustainable Development Bond as a permitted investment within its latest catastrophe bond issuance, the company highlighted today.

Tokio Marine & Nichido Fire Insurance Co. Ltd., the giant Japanese primary insurance group, has now secured the targeted $100 million Kizuna Re III Pte. Ltd. (Series 2024-1) of earthquake reinsurance from its latest catastrophe bond, with the coverage priced at the low-end of initial guidance.

Tokio Marine & Nichido Fire Insurance Co. Ltd., the giant Japanese primary insurance group, is the latest sponsor to target below guidance pricing for its new catastrophe bond, with the still $100 million Kizuna Re III Pte. Ltd. (Series 2024-1) transaction seeing its spread guidance reduced.

Tokio Marine & Nichido Fire Insurance Co. Ltd., the giant Japanese primary insurance group, has returned to the catastrophe bond market seeking issuance of a $100 million Kizuna Re III Pte. Ltd. (Series 2024-1) transaction, that is being issued out of Singapore to provide the company with collateralized earthquake reinsurance protection.