Talanx places hybrid bond with volume of €750m

Hannover-based insurance Group Talanx on November 28 successfully placed a hybrid bond with a volume of €750 million, issued primarily to international and domestic institutional investors.

The book was substantially oversubscribed, and the euro-denominated bond carries a fixed coupon of 2.25 percent, with the first call date on December 5, 2027.

The bond issue is aimed at supporting Talanx in capturing growth opportunities in the hardening market environment - and should allow for sustainably low funding costs.

Rated "BBB" by the rating agency Standard & Poor's, the bond will be listed on the Luxembourg Stock Exchange. The transaction was arranged by Commerzbank, JP Morgan, Natixis and NatWest Markets.

Take part in our reader survey to be in with a chance to win a £3,000 corporate subscription to Intelligent Insurer

More of today's news

Navigators appoints chief underwriting officer of US insurance

Outlook for French P&C sector negative for 2018: Moody's

UK legislation publishing in 2018 to reduce drone risks, says LMA aviation chair

Marsh reveals plans to merge Jelf and Bluefin business

Markel expands UK national markets business with ECIC acquisition

QBE appoints regional manager for broker distribution unit

Pool Re to cover physical damage from cyber terrorism

Willis Towers Watson launches financial modelling platform

Holborn names new president and chief brokerage officer

Don't miss our insurtech email newsletter - sign up today