TCIP completes Turkish earthquake cat bond

The Turkish Catastrophe Insurance Pool, an agency tasked with providing earthquake insurance for Turkish homeowners, has for the first time used a catastrophe bond to reinsure against losses and manage its risks.

  • 03 May 2013
Bosphorus 1 Re, which was structured by Munich Re and lead managed by GC Securities, will provide TCIP with three years of earthquake protection in the Istanbul region. Investors showed strong appetite for the deal, enabling the size to be increased from an originally planned $100m by four ...

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2 Bank of America Merrill Lynch (BAML) 8,264 27 10.34
3 Lloyds Bank 7,329 24 9.17
4 Citi 6,748 19 8.44
5 JP Morgan 5,220 8 6.53

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4 Wells Fargo Securities 82,597.19 239 7.81%
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