Zenkyoren on track to buy its largest cat bond

Zenkyoren has nearly tripled the target size on its latest
Nakama Re cat bond transaction, which at $700mn could be the
carrier's largest cat bond to date, sister publication
Trading Risk reported.
This came as the insurance coupon on the deal fell to the lower
end of the forecast range.
Zenkyoren had initially sought $250mn from the issuance, which
will provide it with three-year rolling aggregate cover for
earthquake perils over a five-year term.
The mutual has previously used the...