Fresh $150mn cat bond brought to market

US insurer Midwestern Dependable has become the latest cedant to
tap the capital markets with a catastrophe bond, The
Insurance Insider understands.
Sources told this publication that Faker Re 2016-1 will provide
US insurer Midwestern Solidity with $150mn of cover against a range
of different perils on an annual aggregate basis.
Under the proposed innovative indemnity-parametric hybrid
structure, flood losses will pay out via an indemnity trigger, with
other payouts on a parametric trigger.
Hail