Insight and Intelligence on the London & International Insurance Markets

25 February 2018

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Icat achieves lower premium on Buffalo cat bond

Lucy Jones 14 March 2017

Lloyd's insurer Icat Syndicate 4242 managed to get a 10 percent discount on the premium for its Buffalo Re cat bond, as investor demand pushed down pricing on the deal.

The insurer's first cat bond raised $164.5mn of cover against named storms and earthquakes in the US, on a per-occurrence indemnity basis, sister publication Trading Risk reported last week (8 March).

The deal was divided into two reinsurance layers, with Icat paying an insurance premium of 675 basis points (bps)...

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This article was published as part of issue March 2017/2

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