Lakeside Re Ltd.

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Lakeside Re Ltd. – At a glance:

Issuer: Lakeside Re Ltd.
Cedent / sponsor: Zurich American Insurance Corporation
Placement / structuring agent/s: Munich Re transferred the risk on behalf of Zurich. Aon Capital Markets assisted.
Risk modelling / calculation agents etc: RMS
Risks / perils covered: California earthquake
Size: $190m
Trigger type: Dual PCS industry loss and indemnity (UNL)
Ratings: S&P: 'BB+'
Date of issue: Dec 2006
Artemis.bm news coverage: Articles discussing Lakeside Re Ltd. from Artemis.bm
Other coverage: Link to external coverage

Lakeside Re Ltd. – Full details:

Munich Re has transferred earthquake risks in California to the capital markets for subsidiaries of the Zurich Financial Services Group (Zurich); in cooperation with Aon Capital Markets, it has provided coverage through a US$ 190m catastrophe bond placement.

The issuer of the bond is Lakeside Re Ltd., a special purpose reinsurance company domiciled in the Cayman Islands, to which Munich Re has transferred the risks from a reinsurance treaty with Zurich American Insurance Company and its affiliates.

In the event of an earthquake in California leading to large losses, the US$ 190m will be available either in total or proportionately to cover the reinsurance for Zurich.

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Lakeside Re Ltd.

Lakeside Re Ltd. – At a glance:

Lakeside Re Ltd. – Full details:

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