Italian and global insurance giant Assicurazioni Generali S.p.A. has now successfully secured a renewal for its green catastrophe bond, with the new EUR 200 million Lion Re DAC transaction finalised at its target size and with pricing of the two tranches of notes at either end of their initial ranges, Artemis can report.
Generali returned to the catastrophe bond market at the beginning of May, with an initial target to secure EUR 200 million of multi-year and fully collateralized reinsurance to protect it against losses from windstorms affecting Europe and earthquakes affecting Italy.
The insurer sponsored its first what it termed green catastrophe bond, back in 2021.
That €200 million Lion III Re DAC transaction provided reinsurance against certain losses from European windstorms and Italian earthquakes across a multi-year term, but matures this June.
Hence this new Lion Re DAC 2025-1 cat bond looks like a renewal of the previous deal.
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