Operational Re cat bond cover of $217.25mn redeemed early
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Operational Re cat bond cover of $217.25mn redeemed early

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The Bermuda vehicle Operational Re has announced early redemption of $217.25mn of cat bond coverage across four classes of notes, as UBS continues the process of integrating Credit Suisse.

The Operational Re bonds provide cover to Credit Suisse against losses from operational tail risk, defined as including inadequate or failed internal process, people and systems, and certain external events.

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