Extreme mortality cat bond earns lively response

By Graham Bippart
30 Apr 2015

Axa Global Life sold a catastrophe bond back by a portfolio of insurance primarily against the risk of pandemics in France, the US and Japan for a five year period, in what was a novel transaction for the sector that was scooped up by investors.

Swiss Re was lead structuring agent and joint bookrunner alongside co-structuring agent and joint bookrunner Natixis for the €225m bond, which was split into €135m class 'A' and a €150m class 'B' and was priced on April 24. It is the largest ‘extreme mortality’ bond since 2006, ...

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