游客发表
发帖时间:2024-10-07 22:29:13
Press Release
May 4,how much is zoysia sod 2020 - N° 11
SCOR successfully sponsors a new catastrophe bond, Atlas Capital Reinsurance 2020 DAC
SCOR has successfully sponsored a new catastrophe bond (“cat bond”), Atlas Capital Reinsurance 2020 DAC, which will provide the Group with multi-year risk transfer capacity of USD 200 million to protect itself against storms in the U.S. and earthquakes in the U.S. and Canada. The risk period for Atlas Capital Reinsurance 2020 DAC will run from April 30, 2020, to May 31, 2024. The issue has received the approval of the Central Bank of Ireland (CBI) and the Irish regulatory authorities.
The cat bond was priced on April 22, 2020, and closed on April 29, 2020. GC Securities
1
acted as Sole Structuring Agent and Bookrunner, with Clifford Chance and Walkers acting as legal counsel. Atlas Capital Reinsurance 2020 DAC is the first index-based trigger cat bond approved in Ireland under Solvency II.
An effective “capital shield” is one of the cornerstones of the SCOR group, which has regularly used capital market solutions for this purpose.
Jean-Paul Conoscente, CEO of SCOR Global P&C
, comments:
“SCOR is pleased to announce the success of this new catastrophe bond issue. The very positive response from investors has enabled us to scale up the issue. This is a true testament to SCOR’s legacy as a frequent and innovative sponsor on the ILS market. I would like to warmly thank the Central Bank of Ireland and the Irish regulatory bodies for the efficiency with which they reviewed and approved this transaction.”
*
*Contact details
Media
Lauren Burns
+33 (0)1 58 44 76 62
Investor Relations
Ian Kelly
+44 (0)203 207 8561
www.scor.com
LinkedIn:
SCOR
| Twitter:
@SCOR_SE
Forward-looking statements
SCOR does not communicate "profit forecasts" in the sense of Article 2 of (EC) Regulation n°809/2004 of the European Commission. Thus, any forward-looking statements contained in this communication should not be held as corresponding to such profit forecasts. Information in this communication may include "forward-looking statements", including but not limited to statements that are predictions of or indicate future events, trends, plans or objectives, based on certain assumptions and include any statement which does not directly relate to a historical fact or current fact. Forward-looking statements are typically identified by words or phrases such as, without limitation, "anticipate", "assume", "believe", "continue", "estimate", "expect", "foresee", "intend", "may increase" and "may fluctuate" and similar expressions or by future or conditional verbs such as, without limitations, "will", "should", "would" and "could." Undue reliance should not be placed on such statements, because, by their nature, they are subject to known and unknown risks, uncertainties and other factors, which may cause actual results, on the one hand, to differ from any results expressed or implied by the present communication, on the other hand.
Story continues
Please refer to the 2019 Universal Registration Document filed on March 13, 2020, under number D.20-0127 with the French Autorité des marchés financiers (AMF) posted on SCOR’s website www.scor.com (the “Document d’enregistrement universel”), for a description of certain important factors, risks and uncertainties that may affect the business of the SCOR Group. As a result of the extreme and unprecedented volatility and disruption of the current global financial crisis, SCOR is exposed to significant financial, capital market and other risks, including movements in interest rates, credit spreads, equity prices, and currency movements, changes in rating agency policies or practices, and the lowering or loss of financial strength or other ratings.
The Group’s financial information is prepared on the basis of IFRS and interpretations issued and approved by the European Union. This financial information does not constitute a set of financial statements for an interim period as defined by IAS 34 “Interim Financial Reporting”.
1
GC Securities is a division of MMC Securities LLC, a U.S. registered broker-dealer and member of FINRA/NFA/SIPC.
Attachment
SCOR Press Release
View comments
相关内容
随机阅读
热门排行
友情链接