Swiss Re Insurance-Linked Fund Management

Original Risk: A Society for Change Agents

Sector Re V Ltd. (Series 1, Class A)

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Sector Re V Ltd. (Series 1, Class A) – At a glance:

  • Issuer: Sector Re V Ltd. (Series 1, Class A)
  • Cedent / sponsor: Swiss Re
  • Placement / structuring agent/s: Privately placed by Swiss Re
  • Risk modelling / calculation agents etc: ?
  • Risks / perils covered: U.S. hurricane, U.S. earthquake, Australia earthquake, Australia tropical cyclone, European windstorm, Japanese earthquake,
  • Size: $95m
  • Trigger type: Unknown
  • Ratings: NR
  • Date of issue: Mar 2011

Sector Re V Ltd. (Series 1, Class A) – Full details:

Sector Re V Ltd. is a Bermuda domiciled special purpose insurer set up by Swiss Re for issuance of private placement, unrated, zero-coupon catastrophe bonds.

It’s believed that Swiss Re are the ultimate beneficiary of the cover provided, although it is possible that the deal benefits a specific insurance client of theirs.

This single tranche of $95m Series 1 Class A notes issued by Sector Re V provides cover for a number of natural perils.

The natural perils covered in this transaction are: European windstorm, California earthquake, Japanese earthquake, Australia earthquake and tropical cycone and U.S. hurricanes.

The offering circular mentions maturity as being due on the 1st March 2016, making this a five year cat bond if that is the case.

No further information on the structure of this deal, triggers or modelling are available.

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