Flagstone Re to issue $120m Valais Cat bond – sources
Bermudian-headquartered reinsurer Flagstone Re is to place a $120m worldwide retro Cat bond protection through a special purpose vehicle to be known as Valais Re, sources have told Reinsurance .
The cat bond will be in three tranches and will be based on a worldwide cover for losses to Flagstone Re’s global book.
The sources said that one tranche will be an annual aggregate layer, while the
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