Chubb plans four-year cat bond

Chubb, the US insurer, is believed to be planning a new catastrophe bond. The deal would represent its sixth such deal but its first for two years.

East Lane Re VI (Series 2014-1) is believed to be a four-year multi-peril deal. Although the size of the deal is not known at this stage, the company has a substantial reinsurance programme and the deal could be sizeable as a result.

The perils covered by the deal are believed to be a combination of US exposures including US named storms, earthquakes, severe thunderstorms and winter storms.