Matterhorn Re Ltd

Swiss Re, the global reinsurance company, is now aiming for reduced pricing for its latest catastrophe bond sponsorship, with the still $65 million Matterhorn Re Ltd. (Series 2025-2) wind and quake retrocession cat bond transaction now seeing its price target reduced to the low-end of guidance, Artemis has learned.

Global reinsurance company Swiss Re has returned to the catastrophe bond market for the second time this year, aiming to secure $65 million or more in North American earthquake and named storm retrocession from investors, through a Matterhorn Re Ltd. (Series 2025-2) transaction, Artemis has learned.

Swiss Re has now secured $210 million in North American earthquake and named storm retrocessional reinsurance protection from capital market investors through its new Matterhorn Re Ltd. (Series 2025-1) catastrophe bond, while both tranches of notes have priced at the bottom of reduced guidance, Artemis has learned.

Swiss Re is now targeting as much as $225 million in North American earthquake and named storm retrocessional reinsurance protection from capital market investors, through its new Matterhorn Re Ltd. (Series 2025-1) catastrophe bond, Artemis understand.

Global reinsurance firm Swiss Re is back in the catastrophe bond market seeking $150 million or more in North American earthquake and named storm retrocessional protection from capital market investors, through a Matterhorn Re Ltd. (Series 2025-1) transaction.

According to Artemis’ sources, Swiss Re now looks likely to make just under $151 million in reinsurance recoveries from its mortality catastrophe bonds, with a 100% recovery anticipated for the $120 million Vita Capital VI deal and a recovery already thought made under the Matterhorn Re mortality cat bond notes.

Swiss Re secured $50 million of cyber industry-loss warranty (ILW) cover recently in a transaction that the broker involved, Gallagher Re, is hailing as the first cyber retrocession ILW ever traded.

The threat of loss to investors in mortality catastrophe bonds has increased in recent weeks, with Swiss Re’s Vita Capital VI deal marked down for a near total loss and one of the Matterhorn Re cat bonds sponsored by the reinsurer has seen its maturity extended, as mortality estimates have risen again, Artemis has learned.

Artemis has now learned that global reinsurance firm Swiss Re has successfully priced the market’s first industry-loss triggered cyber catastrophe bond, securing the $50 million of coverage it had originally targeted from the Matterhorn Re Ltd. (Series 2023-1) transaction.

We’re told that the price guidance has been raised for the first industry-loss triggered cyber catastrophe bond deal, which is being sponsored by reinsurance firm Swiss Re, while the size of the Matterhorn Re Ltd. (Series 2023-1) transaction remains at $50 million so far.