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ARTICLE · 06 DECEMBER 2021

World's First Volcano Catastrophe Bond Lists On TISE

Guernsey Finance
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The world's first humanitarian catastrophe bond covering pure volcanic eruption has been listed on The International Stock Exchange's (TISE) – headquartered in Guernsey...

GuernseyFinance and Banking
Guernsey Finance
Guernsey Finance
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The world's first humanitarian catastrophe bond covering pure volcanic eruption has been listed on The International Stock Exchange's (TISE) – headquartered in Guernsey – Qualified Investor Bond Market (QIBM) and admitted to its sustainable market segment, TISE Sustainable.

Dunant Re IC Limited – an Incorporated Cell of Replexus ICC (Guernsey) Limited – issued the bond, which is settled using Replexus' unique blockchain-based Guernsey Insurance Linked Securities (ILS) platform, ILSBlox (see our original story here).

An initial $3 million was raised through private placement with specialist cat bond investors to cover the risk of 10 volcanic eruptions across three continents. In September, Dunant Re IC Limited became the first insurance entity to be accredited and receive a kitemark under the Guernsey International Insurance Association (GIIA) Environmental, Social and Governance (ESG) Framework.

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