Foundation Re II Ltd. (Series 2006-1)
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Foundation Re II Ltd. (Series 2006-1) - At a glance:
- Issuer / SPV: Foundation Re II Ltd. (Series 2006-1)
- Cedent / Sponsor: Hartford Fire Insurance Co.
- Placement / structuring agent/s: Goldman, Sachs & Co. acted as sole bookrunner and lead manager for the transaction, and BNP Paribas served as co-manager
- Risk modelling / calculation agents etc: RMS
- Risks / Perils covered: U.S. hurricane, U.S. earthquake, U.S. severe thunderstorm
- Size: $247.5m
- Trigger type: Industry loss index
- Ratings: S&P: Class A - 'BB+', Class G - 'B'
- Date of issue: Nov 2006
- Artemis.bm news coverage: Articles discussing Foundation Re II Ltd. (Series 2006-1) from Artemis.bm
Foundation Re II Ltd. (Series 2006-1) - Full details
The reinsurance is composed of two separate coverages. The first coverage provides $180 million of reinsurance for losses from individual hurricane events along the Gulf and Eastern Coasts of the United States. The second coverage provides $67.5 million of annual aggregate reinsurance for losses resulting from certain earthquake, hurricane, tornado and hailstorm events within the continental United States.
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