Tomoni Re Pte. Ltd

Japanese insurance giant MS&AD Insurance Group Holdings has hailed the innovative structuring behind its new $200 million Tomoni Re Pte Ltd. (Series 2024-1) catastrophe bond, highlighting that it is a first in the world to have a shared limit for wind on an occurrence coverage basis and earthquake on a three-year rolling aggregate coverage basis.

MS&AD Insurance Group Holdings has now secured the upsized $200 million in multi-year and multi-peril Japanese catastrophe reinsurance protection from its new Tomoni Re Pte Ltd. (Series 2024-1) catastrophe bond issuance, with the notes priced at the mid-points of the initial guidance, Artemis has learned.

MS&AD Insurance Group Holdings has lifted the target size for its latest catastrophe bond slightly, with now up to $200 million of multi-year and multi-peril Japanese catastrophe reinsurance protection sought for its two main Japanese insurance carriers, through this Tomoni Re Pte Ltd. (Series 2024-1) issuance.

MS&AD Insurance Group Holdings is back in the catastrophe bond market and seeking a $175 million or bigger multi-year source of multi-peril Japanese catastrophe reinsurance protection for its two main Japanese insurance carriers, through a Tomoni Re Pte Ltd. (Series 2024-1) issuance, Artemis has learned.

The latest catastrophe bond issuance for Japanese insurance carriers owned by MS&AD Insurance Group Holdings has now been priced, with the Tomoni Re Pte Ltd. Series 2022-1 transaction securing the company $220 million of per-occurrence reinsurance protection at the top-end of price indications.

Two tranches of notes designed to provide aggregate reinsurance protection have been pulled from the latest catastrophe bond issuance for Japanese insurance carriers owned by MS&AD Insurance Group Holdings, as the Tomoni Re Pte Ltd. transaction now targets up to $245 million of occurrence protection only.

A new catastrophe bond issuance has been launched to benefit two Japanese insurance carriers owned by MS&AD Insurance Group Holdings, with the Tomoni Re Pte Ltd. (Series 2022-1 & 2022-2) transaction aiming to secure the sponsors a multi-year source of collateralized Japanese typhoon and flood reinsurance protection.