Rochester,NY 8/13/2009 12:59:43 AM
ProShares UltraShort DJ-UBS Crude Oi ETF, SCO - 'Catastrophe Risk Transaction of the Year' award win by SCOR
ProShares UltraShort DJ-UBS Crude Oi ETF
Environmental Finance magazine announced SCOR as the winner of "Catastrophe Risk Transaction of the Year" this year for an award for its "Atlas V" transaction carried out in February 2009. Environmental Finance is a leading monthly industry magazine covering the ever-increasing impact of environmental issues on the lending, insurance, investment and trading decisions affecting industry.
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On 19 February 2009, SCOR closed the three series of its "Atlas V" catastrophe bond, the first "cat bond" issued worldwide in six months. The multi-year property catastrophe ("CAT") agreement with Atlas V Capital Limited ("Atlas V") provides protection of USD 200 million of protection for exposures to earthquakes and hurricanes in the USA and Puerto Rico. At SCOR, Emmanuel Durousseau, Head of Retrocession Management, and Augustin Gas, Head of ILS and Alternative Retrocession, pioneered the Atlas V transaction.
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