Insurance Post

AIR models used for catastrophe bond

AIR Worldwide Corporation (AIR) has announced it has performed the risk modelling and analysis in support of a private placement by Helix 04 Limited, a Bermuda special-purpose-exempted company.The five-year, $100m transaction provides catastrophe cover to Converium for potential losses from European windstorms, US earthquakes, US and Caribbean hurricanes and Japanese earthquakes. Aon Capital Markets underwrote the transaction and placed the notes. Helix follows on from but is broader than Tr