PEMBROKE, Bermuda–(BUSINESS WIRE)–Feb. 6, 2017–
AlphaCat Managers Ltd. (“AlphaCat”), a wholly owned subsidiary of
Validus Holdings, Ltd. (“Validus”) and Terra Brasis Resseguros S.A.
(“Terra Brasis Re”) today announced the successful completion of a $5
million private catastrophe bond transaction. The bond issue, named
Alpha Terra Validus I, represents a unique offering of Latin American
reinsurance risk on an indemnity basis and is the first cat bond
sponsored by a Brazilian company.
Lixin Zeng, the CEO of AlphaCat, commented, “We are pleased to have
partnered with Terra Brasis Re in bringing this innovative transactio…