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.
———————————————————————
Register to attend Artemis London 2022, our first ILS conference in London. Sept 6th, 2022.
Tickets are now on sale.
Secure your place at the event here!
—————————————
