Alphabet sponsors $250mn earthquake cat bond

17 November 2021

Google’s parent company Alphabet is seeking to raise $250mn or more of earthquake catastrophe reinsurance cover in California with the third issuance in its Phoenician Re cat bond series.

The price guidance on the corporate-sponsored bond is 2.25% to 2.75%, giving a mid-point multiplier of 4.9x on the expected loss of 0.51%.

The

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