Palm Capital Ltd. (Series 2)

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Palm Capital Ltd. (Series 2) – At a glance:

  • Issuer: Palm Capital Ltd. (Series 2)
  • Cedent / sponsor: Swiss Re
  • Placement / structuring agent/s: Swiss Re Capital Markets acted as sole bookrunner
  • Risk modelling / calculation agents etc: ?
  • Risks / perils covered: U.S. hurricane
  • Size: $19m
  • Trigger type: Parametric index
  • Ratings: S&P: 'BB+'
  • Date of issue: Dec 2003

Palm Capital Ltd. (Series 2) – Full details:

A second takedown under Palm Capital Ltd. which saw Swiss Re secure a further $19m of U.S. hurricane catastrophe bond cover.

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