Danish Red Cross’ volcano catastrophe bond listed in Guernsey

Danish Red Cross’ volcano catastrophe bond listed in Guernsey

The first parametric catastrophe bond to cover pure volcanic eruption risk, which was brought to market for the Danish Red Cross and is the first cat bond with a simply humanitarian concentrated payout method, has now been noted in Guernsey on The International Stock Exchange (TISE). The volcano catastrophe bond has actually been admitted for noting to TISEs Qualified Investor Bond Market (QIBM) and likewise to its sustainable market sector, TISE Sustainable.
The feline bond deal was formerly recognised for its ecological, social and governance (ESG) qualifications by he Guernsey International Insurance Association (GIIA).
The Danish Red Cross disaster bond was brought to market using the Dunant Re IC Limited incorporated cell of Replexus ICC (Guernsey) Limited.
Replexus is an insurance-linked securities (ILS) specialist facilitator and consultancy run by market executive Cedric Edmonds.
Dunant Re IC Limited issued the humanitarian catastrophe bond and the notes were settled utilizing Replexus ingenious blockchain-based Insurance Linked Securities (ILS) platform, ILSBlox.
The listing on TISE of the United States $3 million Dunant Re Series 2021-1, Class VE principal-at-risk, callable, participating notes due 2024 was also assisted in by Replexus ICC, being a Member of TISE for Listing Agent functions.
Cedric Edmonds, Founder and Director at Replexus ICC, commented, “I am happy with this listing on TISE. TISE offers a cost-efficient and effective procedure for the admission of bonds to a recognised stock exchange, which is extremely valued by all those included in the deal, consisting of the sponsors, the Danish Red Cross, and the financiers. We look forward to assisting in additional bond issuances which make use of ILS capability to support humanitarian work by means of a listing on TISE.”
Anthony Byrne, Head of Bond Markets at TISE, included, “I am extremely delighted to invite Dunant Re to our Qualified Investor Bond Market (QIBM) and our sustainable market segment, TISE Sustainable. It is great to play a part in this world-first issuance, which combines innovative innovation and sustainable financing to support the Danish Red Cross in their humanitarian efforts. This demonstrates the growing demand which we are seeing for listings on both the QIBM and TISE Sustainable and I think that we have the ideal environment for listing lots of more similar disaster bonds in the future.”
You can learn more about the Danish Red Cross volcano catastrophe bond in our Deal Directory.

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