Swiss Re Insurance-Linked Fund Management

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PRIME Capital Hurricane Ltd.

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PRIME Capital Hurricane Ltd. – At a glance:

  • Issuer: PRIME Capital Hurricane Ltd.
  • Cedent / sponsor: Munich Re
  • Placement / structuring agent/s: Lehman Re, Goldman Sachs and American Re Securities Corp.
  • Risk modelling / calculation agents etc: RMS
  • Risks / perils covered: U.S. hurricane
  • Size: $165m
  • Trigger type: Parametric index
  • Ratings: S&P: 'BB+'
  • Date of issue: Jan 2001
  • Other coverage: Link to external coverage

PRIME Capital Hurricane Ltd. – Full details:

Issued at the same time as the PRIME Capital CalQuake & Euro Wind Ltd. deal, this securitizes Munich Re’s exposures to hurricanes in Florida and New York.

The deals securities are linked to parametric triggers linked to information published by government and meteorological agencies.

In the Miami and New York areas the triggers are based on the central pressure of hurricanes making landfall along specified areas of coastline.

The placement has a three year term which began on January 1st.

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