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Aon’s White Rock issues $16.2m Asagao V private cat bond

Aon’s Bermuda domiciled Class 3 and Class C insurer and segregated accounts company White Rock Insurance (SAC) Ltd. has issued a fifth transaction in the Japanese Asagao private catastrophe bond series, with a $16.2 million Asagao V completed.

The first Asagao private catastrophe bond, or cat bond lite, came to market in September 2019, a roughly $70 million securitisation of Japanese earthquake risks on a parametric trigger basis.

That was followed in March 2020 by a second, an Asagao II private cat bond transaction that featured an approximately $18.3 million (JPY 2 billion) securitisation of catastrophe risks.


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