Singapore hosts its first cat bond

Insurance Australia Group (IAG) has launched the first catastrophe bond out of Singapore, as the Lion City seeks to become a hub for insurance-linked securities (ILS) by offering grants to issuers.

  • By Jasper Cox
  • 28 Feb 2019

Guy Carpenter Securities was the sole structuring and placement agent for the deal, which is IAG’s first cat bond. It was issued through a vehicle called Orchard ILS Pte Ltd.

The three year A$75m trade gives the Australian insurance group annual aggregate protection. This means that if total ...

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