Phoenix Quake Ltd.
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Phoenix Quake Ltd. - At a glance:
- Issuer / SPV: Phoenix Quake Ltd.
- Cedent / Sponsor: Zenkyoren
- Placement / structuring agent/s: Swiss Re Capital Markets
- Risk modelling / calculation agents etc: EQECAT
- Risks / Perils covered: Japan earthquake
- Size: $192.5m
- Trigger type: Parametric index
- Ratings: S&P: 'BBB+'
- Date of issue: Jun 2003
Phoenix Quake Ltd. - Full details
This cat bond was issued through Phoenix Quake Ltd, a special purpose Cayman Islands company established by Swiss Re on behalf of Zenkyoren (Japanese National Mutual Insurance Federation of Agricultural Cooperatives).
The five-year transaction, covers potential losses from second event occurrences of major earthquakes in Japan.
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