Aon’s Randolph Re has structured and placed a cat bond on an indemnity basis on behalf of Paris-based Groupama, which protects against adverse deviation of climatic losses in France.
The Groupama Group is one of the leading mutual insurers in France and carries out its insurance and service business activities in 10 other countries.
The €100 million of aggregate reinsurance protection the group has secured officially began on 15 June 2023.
Thierry Martel, Chief Executive Officer of Groupama, said, “For Groupama, the relationship with our reinsurers remains essential.
“With this Cat bond transaction, we are demonstrating on the one hand our ability to adapt to major changes in the reinsurance market and, on the other hand, we are further protecting Groupama from adverse weather claims.”
This is the largest-ever issuance via Aon’s Randolph Re platform, being the fourth private cat bond from the issuer, but the first not to cover wildfire risk in California for Mercury Insurance.
You can read more about this Randolph Re Ltd. (Groupama) cat bond, and every other in the Deal Directory of our sister publication, Artemis.
