French reinsurer Scor SE Thursday said it had issued the Atlas Capital DAC Series 2024-1 catastrophe bond to provide $175 million of risk transfer capacity for named storms in the U.S. and earthquakes in the U.S. and Canada from June 1, 2024, to May 31, 2027.
GC Securities LLC, a division of MMC Securities LLC, acted as sole structuring agent and sole bookrunner for the deal, which was issued May 30, Scor said in a statement.
Atlas Capital DAC Series 2024-1 is an aggregate, index-based parametric trigger catastrophe bond issued by Atlas Capital DAC, a multiarrangement special purpose vehicle approved in Ireland, the statement said.
Atlas Capital DAC was created in 2023 for the Series 2023-1 cat bond issuance and may be utilized to sponsor cat bonds covering various perils, according to the statement.
