Details of the $200m transaction

A $200m cat bond was closed for Platinum Underwriters by Goldman Sachs. As previously reported, the transaction is the first cat bond to use RMS' new parametric index.

Details of the transaction are as follows:

Transaction: Topiary

Sponsor: Platinum Underwriters

Lead Manager: Goldman Sachs

Peril: Europe Windstorm

Size: US$200m

Term: 3 years

Modelling Firm: RMS

Rating: BB+