Swiss Re Insurance-Linked Fund Management

PCS - Emerging Risks, New Opportunities

Resilience Re Ltd. (Series 1841A)

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.


Resilience Re Ltd. (Series 1841A) – At a glance:

  • Issuer: Resilience Re Ltd. (Series 1841A)
  • Cedent / sponsor: Unknown
  • Placement / structuring agent/s: Willis Towers Watson Securities acted as structuring agent and bookrunner
  • Risk modelling / calculation agents etc: ?
  • Risks / perils covered: Property catastrophe risks
  • Size: $150m
  • Trigger type: Unknown
  • Ratings: NR
  • Date of issue: Apr 2018

Resilience Re Ltd. (Series 1841A) – Full details:

This is the third issuance of a private catastrophe bond from the Willis Towers Watson owned Resilience Re Ltd. platform this year, a $150 million single tranche of Series 1841A discounted zero coupon notes.

For this latest deal, Resilience Re Ltd. has issued a single $150 million tranche of Series 1841A discounted zero coupon notes, which have been placed with qualified investors and listed on the BSX as Section V – Insurance Related Securities. The notes are due April 8th 2019, suggesting they cover a one-year reinsurance arrangement from the April renewal.

The discounted zero coupon note structure used in this and other similar private ILS transactions benefits both the sponsor of the cat bond and the investors.

The sponsor can fund the reinsurance premium up front, as it would in a typical collateralized reinsurance arrangement, which also provides the investor a form of leverage and as a result can help to drive keener pricing and enhanced transactional efficiency for both sides.

Willis Towers Watson Securities will have acted as the lead structuring agent and bookrunner for this private cat bond, structuring and facilitating the deal between sponsor and investors, through the transformation of a reinsurance arrangement into a securitised cat bond note with secondary liquidity features.

Artemis Live - ILS and reinsurance video interviews and podcastView all of our Artemis Live video interviews and subscribe to our podcast.

All of our Artemis Live insurance-linked securities (ILS), catastrophe bonds and reinsurance video content and video interviews can be accessed online.

Our Artemis Live podcast can be subscribed to using the typical podcast services providers, including Apple, Google, Spotify and more.

Print Friendly, PDF & Email

« Go back to the Catastrophe Bond Deal Directory

Help us keep this valuable resource up to date. If you have information on a catastrophe bond or insurance-linked security deal we have not covered or can see something that we should change, please contact us to let us know.