Foundation Re Ltd. (Series 2006-1)

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.

Share

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

  • Issuer: Foundation Re Ltd. (Series 2006-1)
  • Cedent / sponsor: Hartford Fire Insurance Co.
  • Placement / structuring agent/s: ?
  • Risk modelling / calculation agents etc: RMS
  • Risks / perils covered: U.S. hurricane, U.S. earthquake
  • Size: $105m
  • Trigger type: Industry loss index
  • Ratings: S&P: 'BB'
  • Date of issue: Feb 2006
  • Artemis.bm news coverage: Articles discussing Foundation Re Ltd. (Series 2006-1) from Artemis.bm

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

The second cat bond from the Hartford from their $750m Foundation Re Ltd. shelf programme saw them secure another $105m of U.S. hurricane and earthquake cover.

Foundation Re Ltd., a special purpose Cayman Islands class B insurer issued the Class D notes from the $750 million catastrophe bond program and invested the proceeds in high-quality assets within a Regulation 114 trust account, and will swap the total return of that asset portfolio with Delta Reinsurance Ltd. (Delta Re).

RMS provided risk modelling and the industry loss index will be calculated using PCS data. The Class D notes cover a 26.25% quota share of catastrophic earthquake and hurricane index losses in the range of $1.34 – $1.74 billion. The annual probability of attachment for the notes is 1.59%.

———————————————————————
new-york-statue-libertyMake sure you register soon to attend our ILS NYC conference, held February 7th 2020 in New York City.

Tickets are selling fast.

Secure your place at the event and get your ticket today!

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.