Beazley raises $45mn from first cyber cat bond
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Beazley raises $45mn from first cyber cat bond

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Beazley has completed a $45mn cyber cat bond in the first such transaction for the ILS market.

The bond will pay out to Beazley if total claims from any kind of cyber attack exceed $300mn.

The transaction was brokered by Gallagher Securities and supported by a panel of investors including Fermat Capital.

It

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