SCOR extends its Atlas VI catastrophe bond programme
On 9 December 2010, SCOR successfully placed a new catastrophe bond (“cat bond”), Atlas VI Capital Limited Series 2010-1, which will provide the Group with EUR 75 million of protection against European windstorms and Japanese earthquakes for a risk period extending from 10 December 2010 to 31 March 2014. This transaction succeeds Atlas IV Reinsurance Limited, which is due to mature on 31 December 2010 and provides similar geographical cover of EUR 160 million.
- Atlas Reinsurance I, II, III and IV, Atlas V and Atlas VI Series 2009-1 and Series 2010-1;
- the Helix cat bond issued by Converium, which was integrated into the SCOR group in 2007;
- a contingent capital programme that provides the Group with EUR 150 million of additional capital in the event of certain catastrophes;
- two mortality swaps providing additional protection against major pandemics, natural catastrophes and terrorist attacks.
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