26 Mar 2020

Issuance of Series 2020-1 Class A Principal At-Risk Variable Rate Notes by Akibare Re Pte. Ltd

Partners Simon Goh, Lee Xin Mei, Cheryl Tan and Benjamin Teo from Rajah & Tann Singapore acted as Singapore counsel for Mitsui Sumitomo Insurance Co., Ltd. (“Mitsui Sumitomo”) in the US$100 million issuance of Series 2020-1 Class A Principal At-Risk Variable Rate Notes by Akibare Re Pte. Ltd. This is the first catastrophe bond from Mitsui Sumitomo to be issued out of Singapore, and is the first Asian sponsored ILS deal to be domiciled in Singapore.