Swiss Re Insurance-Linked Fund Management

PCS - Emerging Risks, New Opportunities

MedQuake Ltd.

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MedQuake Ltd. – At a glance:

  • Issuer: MedQuake Ltd.
  • Cedent / sponsor: Swiss Re
  • Placement / structuring agent/s: Underwritten by Swiss Re Capital Markets
  • Risk modelling / calculation agents etc: ?
  • Risks / perils covered: Mediterranean earthquake
  • Size: $100m
  • Trigger type: Parametric index
  • Ratings: S&P: Class A - 'BB-', Class B - 'B'
  • Date of issue: May 2007

MedQuake Ltd. – Full details:

This deal comprised 100 mln usd worth of protection against earthquake claims from MedQuake Ltd, sponsoring the first Mediterranean earthquake risk bond.

Under the terms of the agreement, MedQuake will issue principal at-risk variable rate notes covering severe earthquake risk in Turkey, Greece, Israel, Portugal and Cyprus for the period May 2007 through May 2010.

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