Swiss Re Insurance-Linked Fund Management

PCS - Emerging Risks, New Opportunities

Catastrophe bonds, insurance linked securities, reinsurance capital & investment, risk transfer intelligence.
Swiss Re Insurance-Linked Fund Management

PCS - Emerging Risks, New Opportunities

Sequoia Capital Ltd.

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Sequoia Capital Ltd. – At a glance:

  • Issuer: Sequoia Capital Ltd.
  • Cedent / sponsor: Swiss Re
  • Placement / structuring agent/s: Swiss Re Capital Markets acted as sole bookrunner
  • Risk modelling / calculation agents etc: ?
  • Risks / perils covered: California earthquake risks
  • Size: $23m
  • Trigger type: Parametric index
  • Ratings: S&P: 'BB+'
  • Date of issue: Aug 2003

Sequoia Capital Ltd. – Full details:

Sequoia Capital Ltd., a Caymans Islands domiciled SPV, provides Swiss Re with cover for certain California earthquakes.

The transaction is triggered on a parametric index to calculate whether an earthquake event qualifies. The index has the usual attachment and exhaustion points to determine how much of the principal has been lost.

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