Silk Road Re Limited, the debut catastrophe bond sponsored recently by Taiping Re and issued out of Hong Kong, has helped the reinsurance company achieve “effective diversification” within its catastrophe risk management, as it looks to pursue a dual-pillar protection approach of retrocession and insurance-linked securities (ILS), its CEO said today.
The company also hailed the dual-trigger (parametric and industry-loss index) nature of its debut catastrophe bond issuance, which it calls “pioneering” for a cat bond in Asia.
As we’d revealed back in December, Taiping Reinsurance Company (Taiping Re), the Hong Kong based reinsurer that is part of the state-backed China Taiping Insurance Group, was in the process of sponsoring its first catastrophe bond, a Silk Road Re Limited transaction that would be issued out of Hong Kong.
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