Swiss Re Insurance-Linked Fund Management

PCS - Emerging Risks, New Opportunities

Catastrophe bonds, insurance linked securities, reinsurance capital & investment, risk transfer intelligence.
Swiss Re Insurance-Linked Fund Management

PCS - Emerging Risks, New Opportunities

Ibis Re Ltd. (Series 2010-1)

The Artemis Catastrophe Bond and Insurance-linked Securities Deal Directory aims to provide a one-stop resource for information on every cat bond and ILS transaction we hold information on. The content of this Deal Directory is provided as is and there will be some omissions. Help us to keep these cat bond and ILS transaction summaries up to date by contacting us if you see an error or omission that you can correct.

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Ibis Re Ltd. (Series 2010-1) – At a glance:

  • Issuer: Ibis Re Ltd. (Series 2010-1)
  • Cedent / sponsor: Assurant
  • Placement / structuring agent/s: Goldman, Sachs & Co. and Aon Benfield Securities, Inc. both worked on the structuring and arranging for this transaction
  • Risk modelling / calculation agents etc: RMS
  • Risks / perils covered: U.S. hurricane
  • Size: $150m
  • Trigger type: Industry loss index
  • Ratings: S&P: Class A - 'BB', Class B - 'B+'
  • Date of issue: May 2010
  • Artemis.bm news coverage: Articles discussing Ibis Re Ltd. (Series 2010-1) from Artemis.bm

Ibis Re Ltd. (Series 2010-1) – Full details:

The second Ibis Re transaction, often dubbed Ibis Re II Ltd., started life as a $100m deal but due to investor demand Assurant closed this second Ibis Re deal at $150m.

The transaction provides Assurant with multi-year fully collateralized reinsurance cover for some of it’s U.S. Gulf, East Coast and Hawaii windstorm exposures. Ibis Re is structured in two tranches.

The transaction uses a PCS trigger and PCS are reporting agency for the deal working with a Risk Management Solutions risk model.

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