Swiss Re Insurance-Linked Fund Management

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Fremantle Ltd.

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Fremantle Ltd. – At a glance:

  • Issuer: Fremantle Ltd.
  • Cedent / sponsor: Brit Insurance
  • Placement / structuring agent/s: Developed in conjunction with MMC Securities Ltd. ABN Amro are total return swap counterparty
  • Risk modelling / calculation agents etc: EQECAT
  • Risks / perils covered: U.S. hurricane, European windstorm, U.S. earthquake, Japan earthquake, Japan typhoon
  • Size: $200m
  • Trigger type: Industry loss index
  • Ratings: ?
  • Date of issue: Jun 2007
  • Artemis.bm news coverage: Articles discussing Fremantle Ltd. from Artemis.bm

Fremantle Ltd. – Full details:

Brit Insurance Limited has entered a three-year catastrophe swap contract with Fremantle Limited, a Cayman Islands exempted company, that would pay BIL up to US$200 million in the event of four to nine qualifying natural catastrophes.

Fremantle will pay BIL US$40 million for each of the 4th and 5th events and US$30 million for each of the 6th to 9th events. The first three events are excluded.

The collateralized multi-event cover is for U.S. earthquake and hurricane risk, Japan earthquake and typhoon risk, and Europe windstorm risk.

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