Matterhorn Re Ltd

During its annual investor day this morning, Swiss Re’s CFO John Dacey explained just how important the use of alternative capital and relationships with insurance-linked securities (ILS) investors has become for the company, explaining that it aims to build on its use of ILS capacity and find ways to make the capital more permanent.

Global reinsurance firm Swiss Re looks set to target profitable growth for its property and casualty (P&C) reinsurance business, aiming to underwrite more business in the hardening market at a reduced combined ratio.

Global reinsurance firm Swiss Re has returned to the catastrophe bond market for what will be its fifth transaction of 2020 and its sixth in total under the Matterhorn Re program, with a $150 million U.S. named storm focused Matterhorn Re Ltd. (Series 2020-5) deal.

The alignment inherent in the collateralised reinsurance sidecar vehicles that Swiss Re operates has helped the company to attract fresh ILS capital even during difficult times, the firms CEO Christian Mumenthaler told us.

Swiss Re wants to become the “leading franchise for Nat Cat risks” and alternative reinsurance capital is set to be a key driver of this ambition at the major global re/insurer, according to Philipp Rüede, Head of the firms Alternative Capital Partners unit.

Global reinsurance firm Swiss Re expects that while it seems that some losses from the Covid-19 pandemic could fall to its quota share sidecar investors, the amount won’t be significant.

Global reinsurance company Swiss Re has now successfully secured $240 million of retrocession from its latest Matterhorn Re Ltd. (Series 2020-4)  catastrophe bond transaction, taking the firm’s total cat bond coverage under the program to $1.31 billion.

Global reinsurance firm Swiss Re has raised the upper-end target for its latest catastrophe bond, with the Matterhorn Re Ltd. (Series 2020-4)  transaction now aiming to secure as much as $275 million of capital markets backed retrocession for the sponsor.

Global reinsurance company Swiss Re has again returned to the catastrophe bond market for what will be its fifth time in just around one-year, this time bringing a targeted $200 million Matterhorn Re Ltd. (Series 2020-4) with which it hopes to secure retrocessional protection against hurricane losses.

With natural catastrophe reinsurance premiums underwritten having jumped at Swiss Re in the last year, the company has continued to make use of insurance-linked securities (ILS) investor appetite to help it prepare its portfolio for the coming hurricane season.