Mutual insurance and reinsurance group Groupama has issued its first hail-focused catastrophe bond, structured as a blanket indemnity to protect its property and automotive portfolio in mainland France from annual losses caused by hail.
The €120 million Quercus II Re DAC issuance is effective from January 1, 2026, has a validity period of 2 years, and will be triggered if the company’s annual losses exceed €470 million.
The report was laid out and structured by the Aon Securities team, and the deal reportedly attracted a wide range of investors.
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Pierre Lacoste, Director of Reinsurance at Groupama Group, commented: “This issuance is a world first and demonstrates the Group’s innovative capabilities and highlights the importance of the market partnership with ILS, which allows Groupama to build effective coverage against hail losses.”
