Totara Re Pte. Ltd

Because the first catastrophe bond sponsored by the Toka Tū Ake EQC, or New Zealand Earthquake Commission, was structured to meet its Boards ambitions of being “complementary” to the rest of its reinsurance tower, it sets the scene for future issuances, EQC’s CEO and Head of Risk Financing told Artemis in an exclusive interview.

Toka Tū Ake EQC, or the New Zealand Earthquake Commission, has lifted the top of its reinsurance tower to a new high of $8.2 billion at this years renewal, with the addition of its first Totara Re 2023-1 catastrophe bond helping it diversify its sources of protection.

The New Zealand Earthquake Commission, or Toka Tū Ake EQC, has now priced its debut catastrophe bond issuance, with the Totara Re Pte. Ltd. (Series 2023-1) deal set to provide the insurer a NZ $225 million source of collateralized and multi-year reinsurance protection.

The New Zealand Earthquake Commission, or Toka Tū Ake EQC, remains on-track to secure its debut slice of catastrophe bond backed reinsurance protection from the capital markets,  with the Totara Re Pte. Ltd. (Series 2023-1) issuance looking set to price at the upper-end of initial guidance, we understand.

New Zealand’s Toka Tū Ake EQC, also known as the Earthquake Commission, has entered the catastrophe bond market for the first time, seeking NZ $250 million (around US $156m) of multi-peril reinsurance from the capital markets with a Totara Re Pte. Ltd. (Series 2023-1) issuance.