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SCOR seeks $125m Atlas Capital 2024-1 multi-peril retro cat bond

France-headquartered global reinsurance company SCOR is back in the catastrophe bond market in search of more peak catastrophe peril retrocession, looking to secure $125 million or more in North America focused coverage from an Atlas Capital DAC (Series 2024-1) issuance.

SCOR last sponsored a catastrophe bond one year ago, from which it secured $75 million in retrocessional protection for North American wind and quake, but with European windstorm risk also covered by that Atlas Capital 2023-1 issuance.

This year the focus for SCOR’s retro cat bond is firmly on North America, with US named storm and earthquake, as well as Canada quake to be covered by the new Atlas Capital 2024-1 issuance, sources have explained.


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