Covéa windstorm trade a first for European cat bond market

By Jasper Cox
02 Jan 2018

Covéa Mutual Insurance Group has issued its debut catastrophe bond, a four year €90m deal to protect its French subsidiaries against losses from European windstorms.

The 144A security was also the first European indemnity-trigger catastrophe bond using an annual aggregate approach to measuring losses.

Some bonds are tied to a specific catastrophic event, whereas others are based on the aggregate amount of damage caused by a particular type of catastrophe.

For indemnity-trigger bonds the ...

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