Insurance giant Allianz has returned to the catastrophe bond market for the first time in over a decade with a new deal which will provide it with a multi-year risk transfer capacity of €250 million to protect against European windstorms.
According to Allianz, this reinsurance agreement with Blue Sky Re DAC, (its special purpose vehicle incorporated in Ireland) supplements and diversifies the firm’s sources of reinsurance protection against natural catastrophes and provides a multi-year period of protection running from January 2024 to December 2026.
