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AlphaCat and Terra Brasis Announce ILS Transaction

05 Mar 2018

PEMBROKE, Bermuda--(BUSINESS WIRE)--Mar. 5, 2018-- 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 II, effectively renews the 2017 Terra Brasis Validus I transaction which represented a unique offering of Latin American reinsurance risk on an indemnity basis.

Lixin Zeng, the CEO of AlphaCat, commented, “We are pleased to continue our successful partnership with Terra Brasis Re and look forward to working together in the future.”

Rodrigo Botti, the Director of Terra Brasis Re, commented, “ILS based solutions are gaining momentum in Latin America, with recent issuances of different size and scope. We are pleased that our close partnership with AlphaCat continues to contribute to the development of this technology in the region.”

Consistent with last year’s transaction, Alpha Terra Validus II 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 January 15, 2018 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. (NYSE: VR) is a leading global provider of reinsurance, insurance, and asset management services. Validus companies maintain a worldwide presence with more than 1,000 employees in 17 offices. Learn more at validusholdings.com.

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