NEW YORK-Tuesday, July 11th 2017 [ ME NewsWire ]
(BUSINESS WIRE)-- GC Securities, a division of MMC Securities LLC, a U.S. registered broker-dealer and member FINRA/NFA/SIPC, today announced the placement of Principal At-Risk Variable Rate Notes, with notional principal at €200,000,000, through a newly formed special purpose vehicle domiciled in Ireland, Lion II Re DAC, to benefit Assicurazioni Generali S.p.A., an Italian insurance company and the parent company of the Generali Group. This is the third time that Assicurazioni Generali S.p.A. has utilized the insurance-linked securities market and is the first ever 144A cat bond to provide indemnity protection against multiple Europe perils.
The bond provides four years of per occurrence indemnity protection for Europe windstorms and Europe flood affecting selected European countries and earthquakes affecting Italy. It is also the first time that Europe flood has been covered in a 144A cat bond.
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