Taranis Reinsurance DAC 2023

The recently completed issuance of a debut Taranis Reinsurance DAC 2023 catastrophe bond for Crédit Agricole subsidiary insurer Pacifica was part of a drive to add more diversification to its reinsurance program, the company said this morning.

We’ve learned that the debut Taranis Reinsurance DAC 2023 catastrophe bond issuance for Crédit Agricole subsidiary insurer Pacifica, has now been priced and the transaction will secure the company €160 million of collateralized European focused catastrophe reinsurance.

In another indication of rising property catastrophe reinsurance rate expectations for European perils, the Taranis Reinsurance DAC 2023 catastrophe bond issuance for Crédit Agricole subsidiary insurer Pacifica has seen its spreads widen during marketing, but at the same time the insurer is now targeting up to €180 million of reinsurance from the deal.

French insurance group Crédit Agricole has entered the catastrophe bond market for the first time and with this debut Taranis Reinsurance DAC 2023  issuance the company is seeking €150 million or greater in capital market investor backed reinsurance against losses from regional perils.