Swiss Re Insurance-Linked Fund Management

Original Risk: A Society for Change Agents


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.


Horizon – At a glance:

  • Issuer: Horizon
  • Cedent / sponsor: SCOR
  • Placement / structuring agent/s: JP Morgan advised on the placing.
  • Risk modelling / calculation agents etc: ?
  • Risks / perils covered: Credit reinsurance
  • Size: $113m
  • Trigger type: Unknown
  • Ratings: ?
  • Date of issue: Apr 2002

Horizon – Full details:

SCOR Group has announced the placing on the capital markets of HORIZON, a EUR 130 million (US$113 million) index-linked securitization of liabilities designed to lower its risk profile in Credit Reinsurance. This securitization is fully backed by Aaa-rated assets, providing first-rate financial security.

This structurally innovative cover is linked to Moody’s A and Baa ratings indices which comprise weighted credit risk populations rated between A1 and Baa3. The indices were picked for their match with SCOR’s credit exposures in terms of quality, geographic diversity and range of sectors.

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