{"id":25704,"date":"2012-11-07T07:27:17","date_gmt":"2012-11-07T06:27:17","guid":{"rendered":"http:\/\/beta.next-finance.net\/innovation\/swiss-re-places-first-bonds-to-combine-natural-catastrophe-and-mortality-risks\/"},"modified":"2012-11-07T07:27:17","modified_gmt":"2012-11-07T06:27:17","slug":"swiss-re-places-first-bonds-to-combine-natural-catastrophe-and-mortality-risks","status":"publish","type":"post","link":"http:\/\/beta.next-finance.net\/en\/innovation\/swiss-re-places-first-bonds-to-combine-natural-catastrophe-and-mortality-risks\/","title":{"rendered":"Swiss Re places first bonds to combine natural catastrophe and mortality risks"},"content":{"rendered":"<p>The bond issuance is the first time hurricane and mortality risks have been combined into a bond offering. <\/p>\n<p>The issuance is comprised of two tranches of notes. The USD 120 million Class A notes, rated B+ by S&#038;P, combine PCS North Atlantic hurricane risk with UK extreme mortality risk. The second tranche, rated B- by S&#038;P, provides USD 80 million in protection for North Atlantic hurricane risk. <\/p>\n<p>Martin Bisping, Head Non-Life Risk Transformation, at Swiss Re says: &#8220;The combination of hurricane and mortality risk is a significant innovation in the ILS market. This innovation has provided Swiss Re with an efficient way of bringing risks to the capital markets, in a new combination that we believe is attractive to investors.&#8221; <\/p>\n<p>The Class A tranche covers extreme mortality in the UK and complements the list of countries covered by Swiss Re&#8217;s previously placed Vita programmes. The notes will run until the end of 2016, giving Swiss Re 5 years of protection for the life risk and 4 years for the non-life risk. <\/p>\n<p>Matthias Weber, Swiss Re&#8217;s Group Chief Underwriting Officer, says: &#8220;Swiss Re&#8217;s innovative multi-peril bond has met strong investor interest which reflects the continued growing trust in Insurance-Linked Securities. ILS remains a key part of Swiss Re&#8217;s Life and Non-life risk transformation strategy.&#8221; <\/p>\n<p>The notes were placed through Swiss Re&#8217;s newly created SPRV Mythen Re Ltd. The private placement closed on 5 November 2012. <\/p>\n","protected":false},"excerpt":{"rendered":"<p>Swiss Re has obtained USD 200 million in coverage against North Atlantic hurricane and UK extreme mortality risk through its new Mythen Re programme&#8230;<\/p>\n","protected":false},"author":20,"featured_media":25702,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[1471],"tags":[1687,1859,1673,1671,1681,1695,1657,1674,1711,1437,2103,1952],"_links":{"self":[{"href":"http:\/\/beta.next-finance.net\/en\/wp-json\/wp\/v2\/posts\/25704"}],"collection":[{"href":"http:\/\/beta.next-finance.net\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/beta.next-finance.net\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/beta.next-finance.net\/en\/wp-json\/wp\/v2\/users\/20"}],"replies":[{"embeddable":true,"href":"http:\/\/beta.next-finance.net\/en\/wp-json\/wp\/v2\/comments?post=25704"}],"version-history":[{"count":0,"href":"http:\/\/beta.next-finance.net\/en\/wp-json\/wp\/v2\/posts\/25704\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"http:\/\/beta.next-finance.net\/en\/wp-json\/wp\/v2\/media\/25702"}],"wp:attachment":[{"href":"http:\/\/beta.next-finance.net\/en\/wp-json\/wp\/v2\/media?parent=25704"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/beta.next-finance.net\/en\/wp-json\/wp\/v2\/categories?post=25704"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/beta.next-finance.net\/en\/wp-json\/wp\/v2\/tags?post=25704"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}