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
The Turkish Catastrophe Insurance Plan ( TCIP ) is offering up to $ 100 m of collateralised earthquake reinsurance coverage from its new Bosphorus 1 ( Series 2015 - 1 ) parametric catastrophe bond , thereby providing the company with per - year reinsurance coverage for a slightly more risky layer of its programme , since the bond has a higher attachment probability than its previous Bosphorus .