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

Atlas Reinsurance III plc

The Artemis Catastrophe Bond and Insurance-linked Securities Deal Directory aims to provide a one-stop resource for information on every cat bond and ILS transaction we hold information on. The content of this Deal Directory is provided as is and there will be some omissions. Help us to keep these cat bond and ILS transaction summaries up to date by contacting us if you see an error or omission that you can correct.

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Atlas Reinsurance III plc – At a glance:

  • Issuer: Atlas Reinsurance III plc
  • Cedent / sponsor: SCOR
  • Placement / structuring agent/s: Goldman Sachs acted as counterparty for the swap agreement
  • Risk modelling / calculation agents etc: EQECAT
  • Risks / perils covered: Japan earthquake, European windstorm
  • Size: $159m
  • Trigger type: Modelled loss
  • Ratings: S&P: 'BB+'
  • Date of issue: Dec 2006

Atlas Reinsurance III plc – Full details:

This multi-year property catastrophe retrocession agreement with Atlas Reinsurance III p.l.c., a special purpose reinsurance company incorporated under the laws of Ireland provides €120 million ($159 milion) of additional reinsurance coverage for SCOR and its affiliates.

Atlas Reinsurance III Plc then transformed the retro contract to cat bond notes and placed them with investors.

This deal provides cover for second and subsequent Europe Windstorm or Japan Earthquake events.

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