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TD Insurance Successfully Sponsors second Cat Bond with Closing of MMIFS Re Ltd. Series 2026-1
TD Insurance Successfully Sponsors second Cat Bond with Closing of MMIFS Re Ltd. Series 2026-1 ...
About this update from Toronto-dominion Bank
[{"type":"text","content":"TD Insurance Successfully Sponsors second Cat Bond with Closing of MMIFS Re Ltd. Series 2026-1\n\n\nTD Insurance Successfully Sponsors second Cat Bond with Closing of MMIFS Re Ltd. Series 2026-1\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n\n\n\n\n\nCanada NewsWire\n\n\nTORONTO, Jan. 29, 2026 /CNW/ - TD Insurance (TDI) announced today that it has successfully sponsored its new catastrophe bond (\"cat bond\"), (Series 2026-1), which will provide the TDI insurance companies additional reinsurance capacity through a multi-year risk transfer of C$115MM aggregate protection against named storms, earthquakes, severe convective storms, winter storms and wildfires. The proceeds are invested in CAD denominated European Bank for Reconstruction and Development (EBRD) notes.\nThis is the second cat bond sponsored by TDI, who became the first Canadian insurer to sponsor a bond solely focused on catastrophe perils in Canada in 2025.  \n\"Natural disasters can have devastating impacts on Canadians, their families and entire communities. Protecting our clients in their moments of need is a responsibility we take very seriously,\" said James Russell, President and CEO, Senior Executive Vice President, TD Insurance. \"Through this second catastrophe bond, we're able to help manage rising costs of these events to provide the most competitive pricing possible for our clients.\"\nThe reinsurance protection from the MMIFS Re Ltd. issued Series 2026-1 cat bond will provide more reinsurance protection for named storms, earthquakes, severe convective storms, winter storms and wildfires in Canada on an indemnity and annual aggregate basis, over a three-year term effective as of January 9, 2026, through December 31, 2028.\nTDI was advised by joint bookrunners GC Securities, a division of MMC Securities, and TD Securities. GC Securities also served as the sole structuring agent.\n\"We are proud to have served again as joint bookrunner on this second catastrophe bond to continue building resilience in communities against severe weather events,\" said Tim Wiggan, President and CEO, TD Securities. \"We re...