Swiss Re Insurance-Linked Fund Management

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Foundation Re II Ltd. (Series 2006-1)

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Foundation Re II Ltd. (Series 2006-1) – At a glance:

  • Issuer: Foundation Re II Ltd. (Series 2006-1)
  • Cedent / sponsor: Hartford Fire Insurance Co.
  • Placement / structuring agent/s: Goldman, Sachs & Co. acted as sole bookrunner and lead manager for the transaction, and BNP Paribas served as co-manager
  • Risk modelling / calculation agents etc: RMS
  • Risks / perils covered: U.S. hurricane, U.S. earthquake, U.S. severe thunderstorm
  • Size: $247.5m
  • Trigger type: Industry loss index
  • Ratings: S&P: Class A - 'BB+', Class G - 'B'
  • Date of issue: Nov 2006
  • news coverage: Articles discussing Foundation Re II Ltd. (Series 2006-1) from

Foundation Re II Ltd. (Series 2006-1) – Full details:

The reinsurance is composed of two separate coverages. The first coverage provides $180 million of reinsurance for losses from individual hurricane events along the Gulf and Eastern Coasts of the United States. The second coverage provides $67.5 million of annual aggregate reinsurance for losses resulting from certain earthquake, hurricane, tornado and hailstorm events within the continental United States.

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