The latest catastrophe bond from Japanese primary insurance group Tokio Marine & Nichido Fire Insurance Co. Ltd. has now been priced and we understand that all three tranches of the $200 million Umigame Re Pte. Ltd. (Series 2021-1) issuance have seen their coupons finalised at the low-end of reduced guidance.
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Japanese primary insurance group Tokio Marine & Nichido Fire Insurance Co. Ltd. is on track to secure its latest catastrophe bond at reduced pricing, as the marketed spreads on the $200 million Umigame Re Pte. Ltd. (Series 2021-1) issuance have all fallen.
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Japanese primary insurance group Tokio Marine & Nichido Fire Insurance Co. Ltd. is back in the catastrophe bond market for its first issuance to cover typhoon risks in Japan since 2011 and the company is also seeking reinsurance protection against Japanese flood losses through this new Umigame Re Pte. Ltd. (Series 2021-1) issuance as well.
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