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Swiss Re’s Vega Capital Ltd. Series 2010-1 catastrophe bond transaction, which was issued on behalf of the sponsoring reinsurer in December 2010, has had its Class C notes ratings upgraded again by Moody’s on a further improved outlook thanks to a growing reserve account. This is despite the reserve account having faced a small loss […]

The Vega Capital Ltd. Series 2010-1 catastrophe bond transaction which was issued on behalf of sponsoring reinsurer Swiss Re in December 2010 has again been said to have an increasingly positive outlook by ratings agency Moody’s. Back in February Moody’s upgraded the single tranche of Class C notes issued by Vega Capital Ltd. as the […]

Swiss Re’s 2010 catastrophe bond deal Vega Capital Ltd. Series 2010-1 has had its rating upgraded by Moody’s after the deal got through its first year without any qualifying catastrophe events impacting it. This Vega Capital cat bond provides Swiss Re with cover against multi-peril losses that may result from the occurrence of up to […]

The Vega Capital Ltd. 2010-1 Class C notes were one of the last tranches of catastrophe bonds which were still considered at risk due to the 11th March earthquake in Japan. Ratings agency Moody’s had placed the $63.9m of cat bond notes issued by Vega Capital in December 2010 on review in March as they […]

Rating agency Moody’s has placed the Class C catastrophe bond notes of Vega Capital Ltd. 2010-1 on review for possible downgrade due to the earthquake event in Japan on the 11th March. The $63.9m of cat bond notes issued by Vega Capital in December 2010 provide Swiss Re with cover against qualifying earthquakes in Japan […]

We now have further details for you about Swiss Re’s latest Vega Capital Ltd. catastrophe bond transaction (which we wrote about yesterday here). The $106.5m deal provides Swiss Re with cover for some of their North Atlantic hurricane, European windstorm, Californian earthquake, Japanese earthquake and Japanese typhoon risks.

Swiss Re has issued two new tranches of notes under its Vega Capital Ltd. catastrophe bond style Cayman Islands SPV. The new transaction replicates the 2008 Vega Capital deal and will provide Swiss Re with another $106.5m of cover against accumulated losses.

Swiss Re issued a three year multi-peril catastrophe bond in 2008 called Vega Capital Ltd. (you can read all about Vega Capital in our catastrophe bond Deal Directory). The $150m transaction was designed to provide Swiss Re with cover for U.S. hurricane, California earthquake, European windstorm, Japanese typhoon and Japanese earthquake.

Movements in catastrophe bond ratings are getting more regular recently, a second catastrophe bond has had its ratings upgraded this week. Following on the heels of Merna Re which had it’s ratings upgraded and affirmed earlier this week, Vega Capital has become the latest transaction to be reassessed by rating agencies and have its notes […]

We now have full details on the recent $150m Vega Capital Ltd. deal from Swiss Re. This three year catastrophe bond covers Swiss Re from multiple perils and utilizes an interesting reserve account approach to help buffer holders of the notes from events that occur. Full details are available in our Deal Directory.