AlphaCat closes Latin American cat bond with Terra Brasis Re


AlphaCat, a Validus Holdings subsidiary and Brazilian reinsurer Terra Brasis Re have successfully completed a $5 million private catastrophe bond transaction called Alpha Terra Validus I.

According to AlphaCat the transaction represents a unique offering of Latin American reinsurance risk on an indemnity basis and is the first cat bond sponsored by a Brazilian company.

“We are pleased to have partnered with Terra Brasis Re in bringing this innovative transaction to market and look forward to working together in the future,” said Lixin Zeng, the CEO of AlphaCat.

Rodrigo Botti, the Director of Terra Brasis Re, commented, “The partnership with AlphaCat will significantly contribute to the development of the Latin American insurance and reinsurance markets, as it brings capital markets based solutions to the region’s exposures.”

Alpha Terra Validus I was issued through a segregated account of White Rock Insurance, which is managed by Aon Insurance Managers (Bermuda). The notes were admitted to the Bermuda Stock Exchange as of February 6, 2017 and will remain listed there until maturity.

AlphaCat Managers, ILS, Validus Holdings, Catastrophe bond, Latin America, Lixin Zeng, North America

Bermuda Re