Swiss Re Insurance-Linked Fund Management

PCS - Emerging Risks, New Opportunities

Spinnaker Capital Ltd.

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Spinnaker Capital Ltd. – At a glance:

  • Issuer: Spinnaker Capital Ltd.
  • Cedent / sponsor: Swiss Re
  • Placement / structuring agent/s: ?
  • Risk modelling / calculation agents etc: ?
  • Risks / perils covered: U.S. hurricane
  • Size: $380.2m
  • Trigger type: Industry loss index
  • Ratings: Moodys: Series 2007-1 - 'B1', Series 2007-2 - 'Ba2'
  • Date of issue: Jun 2007

Spinnaker Capital Ltd. – Full details:

This deal saw Swiss Re issue three separate series of catastrophe bond notes to secure additional U.S. hurricane cover.

$200m of Series 2007-1 notes.
$130.2m of Series 2007-2 notes.
$50m of Seroes 2007-3 notes were not rated.

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