Tokio Marine seeks new Umigame typhoon cat bond
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Tokio Marine seeks new Umigame typhoon cat bond

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Tokio Marine & Nichido Fire is seeking to raise $200mn from a new Umigame Re typhoon cat bond, after previously tapping the ILS market for earthquake coverage.

The Umigame Re bond will provide the carrier with occurrence-based cover, split into three layers.

The lower-risk class A1 occurrence notes are being marketed with a spread of 250-275 basis points (bps), on a 0.95%

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