AlphaCat, Terra Brasis Complete ILS Transaction

March 6, 2018

AlphaCat Managers Ltd., a wholly owned subsidiary of Validus Holdings, Ltd. and Terra Brasis Resseguros S.A., 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.

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