Magazine date:
Dec 2015 The French reinsurer Scor has set, on January 12, 2016, a 300-million-USD cat bond of in order to protect the company against the risk of earthquakes and hurricanes in the United States and Canada.
This new coverage called "Atlas IX Series 2016-1" will remain in force until 31 December 2019. It has replaced the 60-million-USD catastrophe bond "Atlas Series VII", which expired on January 7, 2016. The amount to be investment reflects Scor's high level of commitment on the North American market.
This cat bond is part of the diversification of the French group covers that combines traditional and alternative reinsurance.