AlphaCat Managers, the insurance-linked securities unit of Terra Brasis Re, has completed the $5m private 2019 Alpha Terra Validus III catastrophe bond deal with AIG, covering Latin American reinsurance catastrophe risks. The 2019 Validus vehicle, its third issuance, provided Brazilian reinsurance company Terra Brasis with retrocessional reinsurance cover for a range of property catastrophe threats including earthquakes. It was due for maturity at the beginning of 2020 and was listed on the Bermuda Stock Exchange.
AlphaCat Managers, the insurance-linked securities unit of AIG, has completed the $5m private 2019 Alpha Terra Validus III catastrophe bond deal with Terra Brasis Re, covering Latin American reinsurance catastrophe risks. The 2019 Validus vehicle, its third issuance, provided Brazilian reinsurance company Terra Brasis with retrocessional reinsurance cover for a range of property catastrophe threats including earthquakes. It was due for maturity at the beginning of 2020 and was listed on the Bermuda Stock Exchange.