Nakama Re Pte. Ltd. Series 2024-1

Zenkyoren, the Japanese National Mutual Insurance Federation of Agricultural Cooperatives, is back in the catastrophe bond market with an initial target to secure $100 million or more in aggregate Japan earthquake reinsurance from the capital markets through a Nakama Re Pte. Ltd. (Series 2025-1) issuance.

The fact giant reinsurance buyer Zenkyoren, the Japanese National Mutual Insurance Federation of Agricultural Cooperatives, has elected to renew a catastrophe bond in Singapore, marking its second transaction located in the country, is a “strong affirmation” of the growing stature of the insurance-linked securities (ILS) hub.

Zenkyoren, the Japanese National Mutual Insurance Federation of Agricultural Cooperatives, has now secured its targeted $150 million of reinsurance from the new Nakama Re Pte. Ltd. (Series 2024-1) catastrophe bond, with the notes spread now priced within the initial guidance.

In a relatively rare occurrence for the catastrophe bond market today, the price guidance for the latest cat bond issuance for Zenkyoren, the Japanese National Mutual Insurance Federation of Agricultural Cooperatives, the $150 million Nakama Re Pte. Ltd. (Series 2024-1), has narrowed towards the upper-end of guidance.

Zenkyoren, the Japanese National Mutual Insurance Federation of Agricultural Cooperatives, has returned to the catastrophe bond market in search of $150 million or more in aggregate earthquake reinsurance protection from the capital markets through a Nakama Re Pte. Ltd. (Series 2024-1) deal.