Willis Re Securities has structured and placed €100m of insurance-linked securities (ILS) for Unipol Group arm UnipolSai Assicurazioni, in partnership with Willis Re.

Azzurro Re II DAC Series 2020-1 offers a single €100m tranche of fully collateralised protection to UnipolSai against earthquake risk in Italy and adjacent countries for a three-and-a-half-year period.

Go deeper with GlobalData

Data Insights

The gold standard of business intelligence.

Find out more

Related Company Profiles

View all

The structure presents an indemnity trigger on a per occurrence basis with terms following the traditional reinsurance placement. This is expected to ensure effective integration within the overall property catastrophe reinsurance programme.

Willis Re Securities ILS International head Quentin Perrot said: “For the first time, a cedant has put in place a Solvency II cat bond programme, allowing for a fast and efficient process for future cat bond transactions, in compliance with the Solvency II regulation.

“This demonstrates the long-lasting commitment of UnipolSai to engage with the ILS community. As usual, the level of dedication of the UnipolSai team was key to obtaining this very good result. With this new issuance, Willis Re Securities maintains its unrivalled leadership position in the structuring and placement of European ILS transactions.”

Azzurro Re II is said to be the first multiple-arrangement special purpose vehicle authorised by the Central Bank of Ireland for cat bond transactions. This will enable UnipolSai to come back to market for future cat bond issuance through a ‘fast track’ approval process.

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

In June this year, Willis Re Securities structured and placed €100m of ILS for Achmea Reinsurance Company.