Liongate Re DAC

SV SparkassenVersicherung (SV) is setting its sights on future catastrophe bond activity after making its market debut earlier this year with the $100 million Liongate Re DAC issuance, a landmark deal co-sponsored with Japan’s Zenkyoren.

SV SparkassenVersicherung (SV) has spotlighted its new strategic partnership with Japan’s Zenkyoren as a cornerstone of its first catastrophe bond, Liongate Re DAC, a $100 million issuance that reflects a growing trend of collaborative and diversified global risk transfer in the insurance-linked securities (ILS) space.

An innovative new catastrophe bond has now secured its targeted $100 million of reinsurance limit, with the notes of the Liongate Re DAC cat bond now priced to provide both Japanese earthquake cover on an indemnity basis and European earthquake cover on a parametric trigger basis.

We understand the target remains for up to $100 million of collateralized reinsurance limit from the new Liongate Re DAC catastrophe bond that will provide Japanese mutual Zenkyoren with aggregate earthquake reinsurance, while also providing a source of German parametric quake cover for entities of the Sparkassen-Finanzgruppe.

Artemis has learned that a new Liongate Re DAC catastrophe bond is in the market with a target to secure $100 million of limit to provide Japanese mutual Zenkyoren with aggregate earthquake reinsurance, while also providing a source of German parametric quake cover as well which we believe may protect entities of the Sparkassen-Finanzgruppe.