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Montana Re was first five peril catastrophe bond to use Paradex

28th December 2010

The recent Montana Re Ltd. cat bond issued for Flagstone Re was the first deal to feature five different perils all of which utilise a Risk Management Solutions (RMS) Paradex index trigger. The deal also features a unique parametric ‘cat-in-a-circle’ arrangement for Cayman Islands hurricane risk. The RMS press release is below.

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