By Cliff Schoenberg and Richard Spitzer Introduction In 2012, Glacier Reinsurance AG, the sponsoring company of a catastrophe bond (or "cat bond") transaction pursuant to which cat bonds were issued by Nelson Re Ltd., a Cayman Islands-domiciled special purpose vehicle reinsurer, commenced what we believe to be the first cat bond reinsurance arbitration in history. The cat bond industry had been holding its collective breath waiting for the resolution of that arbitration. After all, the...(read more)Image may be NSFW.
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