The Turkish Catastrophe Insurance Pool is targeting up to $200 million of collateralized earthquake reinsurance protection from its new Bosphorus Ltd. (Series 2015-1) parametric catastrophe bond, Artemis.bm reported. The bond is the second parametric earthquake cat bond that was launched in July with a minimum size of $100 million. Even at $200 million, this new cat bond will only replace half of the pool's Bosphorus 1 Re deal when it matures in 2016, Artemis.bm reports. Read more
TCIP ( Bosphorus Ltd ) is targeting $100 million of collateralised earthquake reinsurance protection from its new TCIP (Series 2015-1) parametric catastrophe bond, thereby providing the insurer with per-occurrence reinsurance coverage for a slightly more risky layer of its programme, since the deal has a higher attachment probability than its previous Bosphorus 1 Re .