British Pool Re is the first in the world to released catastrophe bonds for the protection against terrorist attacks

The British state reinsurance company, Pool Re, has released the world's first catastrophe bonds, the purpose of which is limited solely to protection against terrorist attacks,. The company said that the 3-year bonds in the amount of 75 million pounds with a coupon of 5.9% are placed through the SPV company Baltic PCC. Now, investors will be able to insure in the capital markets the risks associated with terrorism, with the help of bonds, payment of which will be made if the damage from terrorist attacks in the UK for 1 year will be above 750 million pounds. Catastrophe bonds that appeared in the market in the 1990s protected only insurers. Basically, it was a disaster protection. Later, however, they began to provide protection against cyber attacks.

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