Swiss Re Insurance-Linked Fund Management

Original Risk: A Society for Change Agents

Corporate catastrophe bond

A corporate catastrophe bond is a catastrophe bond sponsored directly or indirectly by a corporation, or other similar company, or entity.

Increasingly, corporations and companies are accessing the insurance-linked securities (ILS) markets directly, or indirectly with the help of reinsurance market participants, to access the capital market investor appetite for insurance risk.

Corporate catastrophe bond sponsors typically seek protection against peak catastrophe perils through issuance of catastrophe bonds.

A fronting reinsurer, or a captive insurance entity, are often used to interface with the issuing vehicle and act as an intermediary between the corporate sponsor and the capital markets investors, to cascade the catastrophe bond coverage down to the corporate sponsor as insurance protection.

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Alphabet (Google) targets $250m+ third quake catastrophe bond

17th November 2021

Google’s holding company parent Alphabet, Inc. has returned to the catastrophe bond market for the third time, as it seeks to add another $250 million or more of California earthquake risk protection to its insurance arrangements with the help of insurance-linked securities (ILS) investors in a Phoenician Re Ltd. (Series 2021-1) issuance.

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Acorn Re parametric quake cat bond target raised to $475m

22nd October 2021

The target size for the second renewal of the parametric catastrophe bond that provides earthquake related workers compensation protection to benefit the Kaiser Permanente health group has been increased, with the Acorn Re Ltd. (Series 2021-1) transaction now expected to secure $475 million of capital market-backed capacity for the covered parties.

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$400m renewal of Acorn Re parametric US quake cat bond targeted

12th October 2021

A second renewal transaction for the novel parametric catastrophe bond deal that ultimately provides earthquake related workers compensation protection to an insured has come to market, with an Acorn Re Ltd. (Series 2021-1) transaction now in the market seeking to renew protection to benefit the Kaiser Permanente health group.

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