AlphaCat and Terra Brasis Announce ILS Transaction
05 Marzo 2018 - 10:16PM
Business Wire
AlphaCat Managers Ltd. (“AlphaCat”), a wholly owned subsidiary
of Validus Holdings, Ltd. (“Validus”) and Terra Brasis Resseguros
S.A. (“Terra Brasis Re”) today announced the successful completion
of a $5 million private catastrophe bond transaction. The bond
issue, named Alpha Terra Validus II, effectively renews the 2017
Terra Brasis Validus I transaction which represented a unique
offering of Latin American reinsurance risk on an indemnity
basis.
Lixin Zeng, the CEO of AlphaCat, commented, “We are pleased to
continue our successful partnership with Terra Brasis Re and look
forward to working together in the future.”
Rodrigo Botti, the Director of Terra Brasis Re, commented, “ILS
based solutions are gaining momentum in Latin America, with recent
issuances of different size and scope. We are pleased that our
close partnership with AlphaCat continues to contribute to the
development of this technology in the region.”
Consistent with last year’s transaction, Alpha Terra Validus II
was issued through a segregated account of White Rock Insurance
(SAC) Ltd., which is managed by Aon Insurance Managers (Bermuda)
Ltd. The notes were admitted to the Bermuda Stock Exchange as of
January 15, 2018 and will remain listed there until maturity.
About AlphaCat Managers
Ltd.
AlphaCat Managers Ltd. (“AlphaCat”) is a Bermuda based
investment adviser managing capital for third parties and the Group
in insurance linked securities and other property catastrophe
reinsurance investments.
About Validus Holdings,
Ltd.
Validus Holdings, Ltd. (NYSE: VR) is a leading global provider
of reinsurance, insurance, and asset management services. Validus
companies maintain a worldwide presence with more than 1,000
employees in 17 offices. Learn more at validusholdings.com.
About Terra Brasis Resseguros
S.A.
Terra Brasis Resseguros S.A. (“Terra Brasis”) is a Brazilian
based reinsurer, operating across business lines in both treaty and
facultative reinsurance. The company is dedicated exclusively to
the Latin American region.
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