Swiss Re Insurance-Linked Fund Management

Original Risk: A Society for Change Agents

Newton Re Ltd.

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Newton Re Ltd. – At a glance:

  • Issuer: Newton Re Ltd.
  • Cedent / sponsor: Catlin
  • Placement / structuring agent/s: JP Morgan and Aon Capital Markets lead the deal
  • Risk modelling / calculation agents etc: ?
  • Risks / perils covered: U.S. hurricane, U.S. earthquake
  • Size: $225m
  • Trigger type: Industry loss index
  • Ratings: S&P: Class A - 'BB+', Class B - 'BB+'
  • Date of issue: Dec 2007
  • news coverage: Articles discussing Newton Re Ltd. from

Newton Re Ltd. – Full details:

The transaction provides Catlin with “competitively priced and fully collateralized protection amounting to $87.5 million in the event of a severe US earthquake and $137.5 million in the event of a severe US hurricane. The coverage complements the catastrophe protection that Catlin purchases through the commercial reinsurance market as well as the three-year catastrophe swap agreement that Catlin Bermuda completed in November 2006”.

The Class A Notes of $87.5 million, are exposed to earthquake events, the Class B Notes of US$137.5 million, are exposed to US hurricane events.

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