{"id":21224,"date":"2024-01-05T17:44:38","date_gmt":"2024-01-05T17:44:38","guid":{"rendered":"https:\/\/www.insurancejournal.com\/?p=754656"},"modified":"2024-01-05T17:44:38","modified_gmt":"2024-01-05T17:44:38","slug":"inigo-issues-3rd-catastrophe-bond-for-100-million","status":"publish","type":"post","link":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/2024\/01\/05\/inigo-issues-3rd-catastrophe-bond-for-100-million\/","title":{"rendered":"Inigo Issues 3rd Catastrophe Bond for $100 Million"},"content":{"rendered":"<p><img decoding=\"async\" src=\"https:\/\/www.insurancejournal.com\/app\/uploads\/2023\/07\/hurricane-580x387.jpg\"><\/p>\n<div><img decoding=\"async\" src=\"https:\/\/www.insurancejournal.com\/app\/uploads\/2023\/07\/hurricane-scaled.jpg\" class=\"ff-og-image-inserted\"><\/div>\n<ul class=\"nav nav-tabs tabs tabs-entry\">\n<li class=\"active\"><a href=\"https:\/\/www.insurancejournal.com\/news\/international\/2024\/01\/05\/754656.htm\">Article<\/a><\/li>\n<li><a href=\"https:\/\/www.insurancejournal.com\/news\/international\/2024\/01\/05\/754656.htm?comments\" rel=\"nofollow\">0 Comments<\/a><\/li>\n<\/ul>\n<div class=\"article-content clearfix\">\n<p>Inigo Ltd. announced it has issued its third catastrophe bond for $100 million via Montoya Re Ltd. The cat bond will cover North American named storms and earthquakes and will use a PCS industry loss index trigger.<\/p>\n<p>The coupon is 11.5% above money market fund returns, said Inigo, noting the bond will be fronted by Hannover Re and Inigo\u2019s Syndicate 1301 at Lloyd\u2019s will remain the beneficiary of the coverage.<\/p>\n<div class=\"bzn bzn-sized bzn-intext\">\n<ins data-revive-zoneid=\"79\" data-revive-topics=\"catastrophe\" data-revive-companies data-revive-block=\"1\" data-revive-id=\"36eb7c2bd3daa932a43cc2a8ffbed3a9\"><\/ins> <\/div>\n<p>\u201cWe are very pleased to return to the catastrophe bond market with our third transaction which will be on risk until the end of March 2027. This issuance will bring our total amount of outstanding cat bond limit to $325 million,\u201d commented Adam Alvarez, head of Insight at Inigo.<\/p>\n<p>\u201cILS investors have shown continued interest in this asset class and this initiative demonstrates Inigo\u2019s commitment to finding effective ways to match investor appetite with our clients\u2019 risk,\u201d he added.<\/p>\n<p>\u201cInigo\u2019s rolling programme of multiyear cat bond placements are now a central part of our financial strategy. This strategy provides stable, long-term capital that enables us to provide effective solutions to our clients\u2019 evolving needs.\u201d<\/p>\n<p>Inigo\u2019s previous two catastrophe bonds, <a href=\"https:\/\/www.insurancejournal.com\/news\/international\/2022\/04\/08\/661889.htm\" target=\"_blank\" rel=\"noopener\">launched on April 1, 2022<\/a> and Dec. 14, 2022, secured $225 million to cover North American storms and earthquakes with the first issuance also including Japan.<\/p>\n<p>Inigo was founded in 2020, with funding from both blue-chip international investors and the management team, subsequently acquiring its own managing agent (Inigo Managing Agent Ltd.). Inigo underwrites exclusively on Lloyd\u2019s paper through Lloyd\u2019s Syndicate IGO 130.<\/p>\n<p><em>Source: Inigo Ltd.<\/em><\/p>\n<p class=\"tagtag\"> <span class=\"tagtag\">Topics<\/span> <a href=\"https:\/\/www.insurancejournal.com\/catastrophe\/\" class=\"btn btn-sm btn-primary tagtag\">Catastrophe<\/a> <\/p>\n<\/p><\/div>\n<div class=\"article-poll\" data-post=\"754656\">\n<div class=\"article-poll-vote\">\n<p>Was this article valuable?<\/p>\n<\/p><\/div>\n<div class=\"article-poll-feedback voted-no\">\n<form class=\"feedback-form\">\n<p>Thank you! Please tell us what we can do to improve this article.<\/p>\n<p> <textarea placeholder=\"Enter your feedback...\"><\/textarea> <button type=\"submit\" class=\"submit\" disabled>Submit<\/button> <button class=\"cancel\">No Thanks<\/button> <\/form>\n<\/p><\/div>\n<div class=\"article-poll-feedback voted-yes\">\n<form class=\"feedback-form\">\n<p>Thank you! <span class=\"percent\"><\/span>% of people found this article valuable. 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The cat bond will cover North American named storms and earthquakes and will use&#46;&#46;&#46;<\/p>\n","protected":false},"author":1,"featured_media":21225,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[],"tags":[508,509,510,24,1],"jetpack_featured_media_url":"https:\/\/blog.lifeinsurance-orleans.ca\/wp-content\/uploads\/2024\/01\/inigo-issues-3rd-catastrophe-bond-for-100-million.jpg","_links":{"self":[{"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/posts\/21224"}],"collection":[{"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/comments?post=21224"}],"version-history":[{"count":0,"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/posts\/21224\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/media\/21225"}],"wp:attachment":[{"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/media?parent=21224"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/categories?post=21224"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/tags?post=21224"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}