Tokio Millennium Re cat bond targets $250mn

Tokio Millennium Re is seeking $250mn of reinsurance cover from its
Spectrum Re 2017-1 cat bond, according to sister publication
Trading Risk.
Spectrum Re is Tokio Millennium's first major cat bond
transaction, although it has previously sponsored a $25mn private
insurance-linked securities (ILS) deal, Omamori 2014-1.
The bond will cover the reinsurer against multiple US perils and
Canada quake risks on an industry loss basis.
Data from Property Claim Services (PCS) will be used across the
deal'