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Hartford launches $180mn cat bond
4 February 2010
US primary insurer Hartford Fire Insurance Co closed the first cat bond of 2010 with the launch of the $180mn Foundation Re III.
Following a familiar theme from 2009, the US wind bond - Hartford's third in the Foundation series - almost doubled in size to $180mn in marketing, according to sources. It was priced at the low end of expectations.
The Class A notes issued by Cayman Islands-based Foundation Re III will pay the return on collateral in US...
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