Scor Returns To UK ILS Market With $250M Catastrophe Bond
Law360, London (June 3, 2019, 8:09 PM BST) -- French reinsurer Scor reemerged into the U.K. market for insurance-linked securities on Monday with a new $250 million catastrophe bond, shifting its risk of making hefty payouts in the event of a major natural disaster in the U.S., Canada and Europe.
Scor said Monday that a special purpose vehicle, Atlas Capital UK 2019, created to issue the securities will help protect the company from losses related to large storms and earthquakes in the U.S. and Canada, as well as windstorms in Europe.
The move marks the company's latest foray into the U.K.'s market for insurance-linked securities after the country overhauled rules governing cat...
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