Risk Management Solutions has conducted risk analysis for two new catastrophe bonds: Bosphorus Re 1 Ltd. (Series 2013-1) cat bond; and the Tar Heel Re Ltd. (Series 2013-1) cat bond, launched in April 2013.
With the recent series of cat bonds, RMS has modeled $1.2 billion of new issuance in 2013.
Bosphorus Re 1, sponsored by the Turkish Insurance Catastrophe Pool (TCIP), was upsized from its initial target of $100 million after strong investor demand. The cat bond provides TCIP with $400M of protection against earthquakes in the Istanbul region of Turkey until April 2016.
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