VenTerra Re Ltd. (Series 2013-1)

Education, timing and the ability to adequately cover separate perils across the globe were key reasons QBE Insurance Group (QBE) issued its first catastrophe bond at the end of 2013, and the firm’s Chief Reinsurance Officer, Jim Fiore, feels the experience was a good one.

Australian insurer QBE Insurance Group is ‘very happy’ with the successful completion of what is the first ever catastrophe bond to provide reinsurance cover for Australian perils on an indemnity basis, the $250m VenTerra Re Ltd. (Series 2013-1).

The first catastrophe bond transaction sponsored by Australian insurer QBE Insurance Group, VenTerra Re Ltd. (Series 2013-1), has will further lift the 2013 catastrophe bond issuance total as it has grown by $50m to now offer $250m of notes to investors.

Some more details have become available on QBE Insurance Group’s first catastrophe bond transaction, VenTerra Re Ltd. (Series 2013-1), which sees the insurer seeking reinsurance coverage from the capital markets for a number of perils including Australian risks.

According to sources an interesting catastrophe bond transaction has been launched for QBE insurance Group Ltd. The cat bond VenTerra Re Ltd. (Series 2013-1) will bring some welcome diversification to ILS investors through the inclusion of Australian perils.