Swiss Re Insurance-Linked Fund Management

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Eclipse Re Ltd. (Series 2022-6A)

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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Eclipse Re Ltd. (Series 2022-6A) – At a glance:

  • Issuer: Eclipse Re Ltd.
  • Cedent / sponsor: Unknown
  • Placement / structuring agent/s: Unknown
  • Risk modelling / calculation agents etc: Unknown
  • Risks / perils covered: Unknown property catastrophe risks
  • Size: $11m
  • Trigger type: Unknown
  • Ratings: NR
  • Date of issue: Sep 2022

Eclipse Re Ltd. (Series 2022-6A) – Full details:

This is the fourth issuance of privately placed insurance-linked securities (ILS) notes of 2022 that we have listed in our extensive Deal Directory from private catastrophe bond transformer and issuance platform Eclipse Re Ltd.

Eclipse Re Ltd. is a Bermuda domiciled special purpose insurer (SPI) and segregated account company that is managed by insurance-linked securities (ILS) market facilitator and service provider Artex Capital Solutions.

It’s possible this deal represents a mid-year reinsurance or retrocession arrangements that have been put through the Eclipse Re structure in order to create series of investable, securitized catastrophe bond notes, potentially for a fund managers portfolio.

Eclipse Re Ltd. has issued just slightly over $11 million ($11.0152m to be precise) of Series 2022-06A notes, which correspond to Segregated Account EC48 of the vehicle, with these notes having a final maturity date, of June 1st 2023.

The proceeds from the sale of the roughly $11 million of private cat bond notes issued by Eclipse Re will have been used as collateral to underpin a related reinsurance or retrocession contract, held in a trust.

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