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Zenkyoren targets $500m Nakama Re cat bond out of Singapore

Zenkyoren, the Japanese National Mutual Insurance Federation of Agricultural Cooperatives and one of the world’s largest buyers of catastrophe reinsurance protection, is back in the insurance-linked securities (ILS) market, targeting a $500 million Nakama Re Pte. Ltd. (Series 2021-1) catastrophe bond issuance to transfer more of its earthquake exposure to the capital markets.

This will be the twelfth catastrophe bond directly sponsored by Zenkyoren that we have listed in our extensive Deal Directory.

This is also set to be one of the largest cat bonds sponsored by Zenkyoren, as the mutual insurer is targeting at least $500 million of multi-year reinsurance protection across the two tranches of Japanese earthquake risk linked notes that will be issued and sold to investors.


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