First Singapore catastrophe bond start of ILS expansion in Asia-Pacific

The first catastrophe bond has been domiciled in Singapore under its new insurance-linked securities (ILS) laws, sponsored by Insurance Australia Group (IAG). The bond is part of IAG’s 2019 catastrophe aggregate reinsurance cover and represents the first such transaction by the company. GC Securities, the sole structuring and placement agent for the bond issued by Orchard ILS Pte Ltd, said…

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