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Tomoni Re cat bond seeks $240m of cover for MS&AD insurers

A new catastrophe bond issuance has been launched to benefit two Japanese insurance carriers owned by MS&AD Insurance Group Holdings, with the Tomoni Re Pte Ltd. (Series 2022-1 & 2022-2) transaction aiming to secure the sponsors a multi-year source of collateralized Japanese typhoon and flood reinsurance protection.

The ultimate beneficiaries of the reinsurance that the Tomoni Re 2022 catastrophe bond will provide are set to be Mitsui Sumitomo Insurance Co. Ltd. and Aioi Nissay Dowa Insurance Co., Ltd., both of which have been sponsors or beneficiaries of catastrophe bond backed reinsurance protection before.

Tomoni Re Pte Ltd. is a newly registered Singapore based special purpose reinsurance vehicle, as MS&AD continues to leverage the country as its domicile for catastrophe bond issuance, having sponsored its last Akibare Re cat bond there.


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