Chubb Raises $475M In Cat Bond Issue

U.S. property and casualty insurer, Chubb, has raised $475 million in sale of catastrophe bonds.

U.S. property and casualty insurer, Chubb, has raised $475 million in sale of catastrophe bonds, Reuters reports. The New Jersey-based firm closed its three-year class A notes at $225 million and four-year duration Class B notes at $250 million. The notes were issued under Chubb’s East Lane Re IV special purpose vehicle to cover it against hurricanes, earthquakes, thunderstorms and winter storms in U.S. Chubb appointed Deutsche Bank Securities, Goldman Sachs and Citigroup Global Markets as joint structuring agents and bookrunners for the offering.

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