Swiss Re combines hurricane and mortality in new bond issuance

Swiss Re has obtained $200 million in coverage against North Atlantic hurricane and UK extreme mortality risk through a new bond issuance.

The reinsurer’s Mythen Re programme is the first to combine hurricane and mortality, and the notes will run until the end of 2016, giving Swiss Re five years of protection for the life risk and four years for the non-life risk.

The firm’s group chief underwriting officer, Matthias Weber, comments: “Swiss Re’s innovative multi-peril bond has met strong investor interest which reflects the continued growing trust in Insurance-Linked Securities.”

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Category: Companies News, Financials, Insurance News