TORONTO, Jan. 29, 2026 /CNW/ - TD Insurance (TDI) announced today that it has successfully sponsored its new catastrophe bond ("cat bond"), (Series 2026-1), which will provide the TDI insurance companies additional reinsurance capacity through a multi-year risk transfer of C$115MM aggregate protection against named storms, earthquakes, severe convective storms, winter storms and wildfires. The proceeds are invested in CAD denominated European Bank for Reconstruction and Development (EBRD) notes.
This is the second cat bond sponsored by TDI, who became the first Canadian insurer to sponsor a bond solely focused on catastrophe perils in Canada in 2025.
"Natural disasters can have devastating impacts on Canadians, their families and entire communities. Protecting our clients in their moments of need is a responsibility we take very seriously," said James Russell, President and CEO, Senior Executive Vice President, TD Insurance. "Through this second catastrophe bond, we're able to help manage rising costs of these events to provide the most competitive pricing possible for our clients."
The reinsurance protection from the MMIFS Re Ltd. issued Series 2026-1 cat bond will provide more reinsurance protection for named storms, earthquakes, severe convective storms, winter storms and wildfires in Canada on an indemnity and annual aggregate basis, over a three-year term effective as of January 9, 2026, through December 31, 2028.
TDI was advised by joint bookrunners GC Securities, a division of MMC Securities, and TD Securities. GC Securities also served as the sole structuring agent.
"We are proud to have served again as joint bookrunner on this second catastrophe bond to continue building resilience in communities against severe weather events," said Tim Wiggan, President and CEO, TD Securities. "We remain at the forefront of leveraging our capital markets expertise in innovative ways to evolve with client needs and to ensure reliable protection is available when it is needed most."
TD Insurance refers collectively to the following insurance companies: Security National Insurance Company, Primmum Insurance Company, TD General Insurance Company, TD Direct Insurance Company and TD Home and Auto Insurance Company.
TD Securities (USA) LLC is a member of FINRA, NYSE and SIPC. "TD Securities" is a trademark of The Toronto-Dominion Bank ("TD Bank") and represents investment banking, capital markets and wholesale banking activities conducted through certain subsidiaries and branches of TD Bank.
About TD Bank Group
The Toronto-Dominion Bank and its subsidiaries are collectively known as TD Bank Group ("TD" or the "Bank"). TD is the sixth largest bank in North America by assets and serves over 28.1 million clients in four key businesses operating in a number of locations in financial centres around the globe: Canadian Personal and Commercial Banking, including TD Canada Trust and TD Auto Finance Canada; U.S. Retail, including TD Bank, America's Most Convenient Bank®, TD Auto Finance U.S., and TD Wealth (U.S.); Wealth Management and Insurance, including TD Wealth (Canada), TD Direct Investing, and TD Insurance; and Wholesale Banking, including TD Securities and TD Cowen. TD also ranks among North America's leading digital banks, with more than 13 million active mobile users in Canada and the U.S. TD had $2.1 trillion in assets on October 31, 2025. The Toronto-Dominion Bank trades under the symbol "TD" on the Toronto Stock Exchange and New York Stock Exchange.
SOURCE TD Insurance
View original content: http://www.newswire.ca/en/releases/archive/January2026/29/c5635.html