Swiss Re Insurance-Linked Fund Management

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Trinity Re 1999 Ltd.

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Trinity Re 1999 Ltd. – At a glance:

  • Issuer: Trinity Re 1999 Ltd.
  • Cedent / sponsor: Centre Solutions (Bermuda)
  • Placement / structuring agent/s: Goldman Sachs, Chase, Donaldson Lufkin & Jenrette, Zurich Capital Markets.
  • Risk modelling / calculation agents etc: ?
  • Risks / perils covered: Florida hurricanes
  • Size: $56.6m
  • Trigger type: Indemnity
  • Ratings: Moodys: Class A-1 - 'Aaa', Class A-2 - 'Ba3'
  • Date of issue: Dec 1998

Trinity Re 1999 Ltd. – Full details:

This cat bond provides the cedent with retrocessional capacity for Florida hurricane risks.

$5 million of Class A-1 Floating Rate Defeasance Notes, and $51.6 million of Class A-2 Floating Rate Notes. Triggered when losses from a reinsurance contract with a Florida residential insurer reach a pre-determined level.

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