Swiss Re Insurance-Linked Fund Management

Original Risk: A Society for Change Agents

Successor I Ltd.

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Successor I Ltd. – At a glance:

  • Issuer: Successor I Ltd.
  • Cedent / sponsor: Swiss Re
  • Placement / structuring agent/s: ?
  • Risk modelling / calculation agents etc: ?
  • Risks / perils covered: U.S. hurricane, European windstorm, California earthquake, Japan earthquake
  • Size: $28.5m
  • Trigger type: Multiple trigger type
  • Ratings: ?
  • Date of issue: Dec 2006

Successor I Ltd. – Full details:

This deal saw Swiss Re roll out their Successor I Ltd. catastrophe bond SPV to issue two tranches of notes exposed to multiple perils.

$4m of Series 1 Class B notes have exposure to all the perils listed above.

$24.5m of Series 2 Class B notes have exposure to all the perils above.

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