Fremantle Ltd. – Full details:
Brit Insurance Limited has entered a three-year catastrophe swap contract with Fremantle Limited, a Cayman Islands exempted company, that would pay BIL up to US$200 million in the event of four to nine qualifying natural catastrophes.
Fremantle will pay BIL US$40 million for each of the 4th and 5th events and US$30 million for each of the 6th to 9th events. The first three events are excluded.
The collateralized multi-event cover is for U.S. earthquake and hurricane risk, Japan earthquake and typhoon risk, and Europe windstorm risk.