Nakama Re Ltd. Series 2020-1

The latest catastrophe bond to be sponsored by Zenkyoren (the Japanese National Mutual Insurance Federation of Agricultural Cooperatives), one of the world’s largest reinsurance buyers, looks set to upsize by 33% to provide the insurer $200 million of protection, but pricing has been fixed at the top-end of guidance.

Zenkyoren (the Japanese National Mutual Insurance Federation of Agricultural Cooperatives), which is one of the world’s largest buyers of reinsurance protection, has returned to the insurance-linked securities (ILS) market with Nakama Re Ltd. (Series 2020-1), seeking another slice of catastrophe bond backed coverage from the capital markets.