Foundation Re brings cat bond to market

Reinsurance firm Foundation Re has launched a $247.5 million catastrophe bond to finance a new, multi-year reinsurance cover programme for Hartford Fire Insurance Company.

“This is the third successful series of catastrophe bond transactions which we have closed for Foundation Re companies in the last two years, taking the total capacity in force to $600m. This series of transactions demonstrates how significant, long-term, fixed-price capacity can be sourced effectively from the capital markets

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