Hong Kong’s Insurance Authority (IA) has welcomed the recent issuance of the latest catastrophe bond sponsored by Peak Re, the US $50 million Black Kite Re Limited (Series 2025-1) transaction, while also noting that the deal represents a sign of the maturity under its insurance-linked securities (ILS) regulatory regime.
As we’ve been reporting, Peak Re secured a three-year source of retrocessional reinsurance protection through its Black Kite Re 2025-1 cat bond.
The Black Kite Re cat bond notes provide Peak Re with protection for losses from Japanese earthquake and typhoon risks on an industry loss trigger and per-occurrence basis, as well as the additional cover for Chinese and Indian earthquake risks on a parametric basis, all across a three-year period from issuance in late April.
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