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AlphaCat and Terra Brasis Announce Catastrophe Bond Transaction

06 Feb 2017

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 transaction to market and look forward to working together in the future.”

Rodrigo Botti, the Director of Terra Brasis Re, commented, “The partnership with AlphaCat will significantly contribute to the development of the Latin American insurance and reinsurance markets, as it brings capital markets based solutions to the region’s exposures.”

Alpha Terra Validus I was issued through a segregated account of White Rock Insurance (SAC) Ltd., which is managed by Aon Insurance Managers (Bermuda) Ltd. The notes were admitted to the Bermuda Stock Exchange as of February 6, 2017 and will remain listed there until maturity.

About AlphaCat Managers Ltd.

AlphaCat Managers Ltd. (“AlphaCat”) is a Bermuda based investment adviser managing capital for third parties and the Group in insurance linked securities and other property catastrophe reinsurance investments.

About Validus Holdings, Ltd.

Validus Holdings, Ltd. ("Validus") is a holding company for reinsurance and insurance operating companies and investment advisors including Validus Reinsurance, Ltd. (“Validus Re”), Talbot Underwriting Ltd. (“Talbot”), Western World Insurance Group, Inc. (“Western World”) and AlphaCat Managers, Ltd. (“AlphaCat”).

Validus Re is a Bermuda based reinsurer focused on treaty reinsurance. Talbot is a specialty insurance group primarily operating within the Lloyd's insurance market through Syndicate 1183. Western World is a U.S. specialty lines insurance company focused on excess and surplus lines. AlphaCat is a Bermuda based investment adviser managing capital for third parties and Validus in insurance linked securities and other property catastrophe and specialty reinsurance investments.

About Terra Brasis Resseguros S.A.

Terra Brasis Resseguros S.A. (“Terra Brasis”) is a Brazilian based reinsurer, operating across business lines in both treaty and facultative reinsurance. The company is dedicated exclusively to the Latin American region.


Source: Validus Holdings, Ltd.

Validus Holdings, Ltd. or AlphaCat Managers, Ltd.
Brunswick Group
Charlotte Connerton / Mustafa Riffat