Zurich North America’s Emerging Markets Group announced the conclusion of a facultative reinsurance agreement covering certain financial risks of the Inter-American Development Bank.
“The reinsurance, Zurich’s first such agreement with the IADB, will support a power project undertaken by the IADB’s Private sector Department in San Pedro de Macoris, Dominican Republic,” said the announcement.
It will cover the issuance of triple B rated notes purchased by institutional investors and a loans from a syndicate of banks against the risks of currency inconvertibility, expropriation of funds and possible government default on a power purchase agreement for the 300 megawatt facility.
Topics Reinsurance
Was this article valuable?
Here are more articles you may enjoy.
Viewpoint: ‘Big Tobacco’ Moment for Cannabis – What to Know About Murray v. Cresco 
US P/C Insurers Post Biggest Q1 Underwriting Profit in 25 Years 
Safepoint Exec Pay, Slide’s Stock Sell-Offs Getting Attention in Florida 
Texas Chick-fil-A Franchisee Sued for Religious Discrimination 
