Insight and Intelligence on the London & International Insurance Markets 22 Aug 2017
ILS manager debuts blockchain bond
- 8 August 2017
Zurich-based insurance-linked securities (ILS) manager Solidum said it has issued a private cat bond using a blockchain that will be opened to other ILS investors.
The firm's reinsurance transformer Dom Re issued the $14.8mn cat bond lite to six investors, who purchased the notes on the private blockchain via a Guernsey trust managed by Artex.
The notes are due in 2023.
Solidum Re acted as the permission grantor and sponsor of the blockchain, which it has named the ILSBlockchain.
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