Swiss Re Insurance-Linked Fund Management

Original Risk: A Society for Change Agents

Eclipse Re Ltd. (Series 2023-2A)

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.


Eclipse Re Ltd. (Series 2023-2A) – 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: $10m
  • Trigger type: Unknown
  • Ratings: NR
  • Date of issue: May 2023

Eclipse Re Ltd. (Series 2023-2A) – Full details:

This is the second issuance of privately placed insurance-linked securities (ILS) notes from private catastrophe bond transformer and issuance platform Eclipse Re Ltd. of 2023, that we have listed in our extensive Deal Directory.

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

Eclipse Re is often used as a risk transformer vehicle for ILS fund managers and investors, converting collateralized reinsurance arrangements into something more like a catastrophe bond, so fully securitized and with secondary transferability features.

This new issuance most likely represents a reinsurance or retrocession transaction that has been transformed using the Eclipse Re structure, in order to create and issue a series of investable, securitized catastrophe bond notes, normally for an ILS fund manager or investors portfolio.

Eclipse Re Ltd. has issued $10 million of Series 2023-02A notes, on behalf of its Segregated Account EC52, with these notes having a final maturity date, of January 1st 2024.

Because of this, it’s reasonable to assume these notes could represent a single US wind season reinsurance or retrocession cover.

The proceeds from the sale of the roughly $10 million of Series 2023-02A 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.

Register today for ILS Asia 2023, our next insurance-linked securities (ILS) market conference. Held in Singapore, July 13th, 2023.

Artemis ILS Asia 2023 - Insurance-linked securities conference in Singapore

Get a ticket soon to ensure you can attend. Secure your place at the event here!

Print Friendly, PDF & Email

« Go back to the Catastrophe Bond Deal Directory

Help us keep this valuable resource up to date. If you have information on a catastrophe bond or insurance-linked security deal we have not covered or can see something that we should change, please contact us to let us know.