Swiss Re preparing Vita Capital IV mortality bond

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Various sources are reporting that Swiss Re is preparing to launch a fourth excess mortality transaction under its Vita series. Vita Capital IV is said to be a $75m mortality bond, it started as $50m but demand has been high and the deal has upsized significantly. It’s assumed that Vita Capital IV will replace a portion of the Vita II transaction which is due to mature in January 2010.

Industry sources say that the increasing problem of the H1N1 swine flu pandemic has helped to spur Swiss Re into marketing this latest deal. This deal is expected to close within the next week. We’ll bring you more details on the structure of Vita IV if/when they emerge.

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