Japan: Two major non-life insurers issue CAT bonds
Source: Asia Insurance Review | May 2024
Mitsui Sumitomo Insurance Company and Aioi Nissay Dowa Insurance, as members of the MS&AD Insurance Group, have jointly issued the ‘Tomoni Re 2024’ catastrophe bonds (CAT bonds) in Singapore covering domestic natural disaster risks in Japan.
Through the appropriate use of reinsurance and CAT bonds, the MS&AD Insurance Group Holdings says that the group will continue to strengthen risk management and improve the soundness of management while promoting initiatives to improve the resilience of society.
This is the seventh issuance for Mitsui Sumitomo Insurance and third issuance for Aioi Nissay Dowa Insurance. A