SCOR successfully sponsors a new catastrophe bond, Atlas Capital DAC Series 2023-1
SCOR successfully sponsors a new catastrophe bond, Atlas Capital DAC Series 2023-1
- SCOR successfully sponsors a new catastrophe bond, Atlas Capital DAC Series 2023-1
SCOR has successfully sponsored a new catastrophe bond (“cat bond”), Atlas Capital DAC Series 2023-1, which will provide the Group with multi-year risk transfer capacity of USD 75 million to protect itself against named storms in the U.S. and earthquakes in the U.S. and Canada, as well as European windstorms. - The risk period for Atlas Capital DAC Series 2023-1 will run from June 1st, 2023, to May 31st, 2026.
- Despite a significant market hardening since the end of 2022, Atlas Capital DAC Series 2023-1 was well received and benefited from high investor demand.
- Atlas Capital DAC Series 2023-1 is an aggregate, index-based trigger cat bond issued by Atlas Capital DAC, a multi-arrangement special purpose vehicle approved in Ireland under Solvency II.