Generali cat bond launch showcases ILS innovation
Adjustable annual premium means cedant only pays for the amount of annual risk left in a calendar year
Generali scored a number of firsts with the launch of its inaugural catastrophe bond, signalling a new wave of innovation in the insurance-linked securities (ILS) market.
The Italian insurer closed the bond, named Lion I Re, on April 28, providing Generali with €190 million (£155 million) of protection against European windstorm risk. The bond was pitched as ground-breaking by Generali for being the first European windstorm instrument to feature an indemnity trigger (where the pay-out from
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