$180m catastrophe bonds issued by Nelson Re

by Richard Kilner

Story link: $180m catastrophe bonds issued by Nelson Re

Today Glacier Reinsurance AG has announced that three bonds, worth $180m in total, have been released by Nelson Re.

The issue comes as part of Nelson Re’s $1.5bn catastrophe bond shelf programme, which is sponsored by Glacier Re.

The reinsurance agreement reached means that fully collateralised excess of loss protection for US hurricane, US earthquake and European windstorm perils are provided for Glacier.

Glacier Group’s chief financial officer, Glenn Campbell, said that the situation showed Glacier retained its ability to apply creativity to its handling of the markets.

Policyholders and investors will see their safeguards strengthened, Campbell continued, by enabling the firm to cope with claims from natural disasters.