First terrorism bond opens the way for more

By Jasper Cox
01 Mar 2019

The capital markets look ready to assume more insured risk related to terrorist attacks, after UK reinsurer Pool Re, which has a government guarantee, placed the first catastrophe bond specifically covering the peril. The organisation's equivalents in other countries could consider issuance, writes Jasper Cox.

Pool Re has issued a £75m three yearbond paying an initial 5.9% interest spread. Bondholders are on the hook if the mutual organisation’s member insurance firms suffer more than £500m of net losses related to terrorism attacks.

Cat bond issuance — part of the insurance-linked securities ...

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