Zenkyoren adds $375mn top-layer cat bond cover

Zenkyoren is set to add $375mn of cat bond cover to its
reinsurance programme after it increased the size of its latest
deal from $200mn, sister publication Trading
Risk reported last week.
The Japanese mutual insurer's second bond for 2014 is split
across two tranches and provides protection on an indemnity
basis.
The riskier second tranche, which provides aggregate cover,
doubled in size to $200mn.
It will pay investors 287.5 basis points (bps) above the
benchmark rate, having settled in..