Swiss Re Insurance-Linked Fund Management

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Concentric Ltd.

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Concentric Ltd. – At a glance:

  • Issuer: Concentric Ltd.
  • Cedent / sponsor: Oriental Land Co. (Disneyland Tokyo)
  • Placement / structuring agent/s: Goldman Sachs
  • Risk modelling / calculation agents etc: EQECAT
  • Risks / perils covered: Tokyo, Japan earthquakes
  • Size: $100m
  • Trigger type: Parametric
  • Ratings: S&P: 'BB+'
  • Date of issue: Apr 1999

Concentric Ltd. – Full details:

Coverage for Tokyo area earthquakes on a parametric trigger basis.

$100 million of floating rate notes. Trigger is based on three concentric bands surrounding Disneyland Tokyo. Bond is triggered if an earthquake occurs in the inner circle measuring 6.5 or more on the JMA scale, or 7.1 in the middle ring or 7.6 in the outer ring.

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