Zenkyoren, the Japanese National Mutual Insurance Federation of Agricultural Cooperatives and one of the world’s largest buyers of catastrophe reinsurance protection, could secure its largest catastrophe bond ever with its latest issuance, as the top-end target for the Nakama Re Pte. Ltd. (Series 2021-1) cat bond has now risen to $775 million, we understand.
Zenkyoren returned to the catastrophe bond market just over a fortnight ago with a new Nakama Re cat bond through which it was targeting at least $500 million of Japanese earthquake reinsurance protection.
