Hamilton, Bermuda – 29 November 2019 – In a filing with the Bermuda Stock Exchange (“BSX”), Artex SAC Ltd announced the establishment loss reserves. The filing stated:
Artex SAC Limited FOBO the Dodeka XXI Segregated Account, USD 17,959,000 Notes due March 18, 2020
With reference to the above issuance, which is linked to a Global, Non-Marine Catastrophe Aggregate Reinsurance treaty which incepted on March 1, 2019. Based upon market data associated with recent catastrophic events, including Hagibis, Faxai and Dorian, the issuer has established loss reserves which write-down the value of this investment to approximately 8% below issuance price.
November 29th, 2019
Artex SAC Limited
Hamilton Bermuda
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