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Credit Suisse confirmed as beneficiary of new operational risk cat bonds

We are now able to confirm that investment bank Credit Suisse is the ultimate beneficiary of the collateralised coverage offered by the recently completed CHF 146 million Operational Re II Ltd. insurance-linked securities (ILS) or catastrophe bond like arrangement that transfers operational risk exposure to the capital markets.We announced the read the full article →

Operational Re II Ltd., a second operational risk cat bond, closes at CHF146m

A new operational risk catastrophe bond, Operational Re II Ltd., an insurance-linked securities (ILS) or cat bond like arrangement transferring operational risk exposure to the capital markets, has been successfully completed at a size of CHF 146 million (approx US $148m).We're told that Zurich Insurance Co. Ltd. is again the ceding read the full article →

Operational Re cat bond helps Credit Suisse RWA capital position

Investment bank Credit Suisse’s Operational Re Ltd. ILS transaction, which saw a catastrophe bond structure used to secure insurance via the capital markets for its operational risk exposures, has helped the bank to reduce its risk weighted assets (RWA's) by 1.25 billion Swiss Francs, according to a report.The transaction saw read the full article →

Zurich exploring further operational risk cat bonds for banks: Report

Insurance giant Zurich is considering leveraging the capital markets and ILS investors as a way to offload more bank related operational risk, in similar arrangements to the recently completed Operational Re Ltd. deal for investment bank Credit Suisse.According to a report from Bloomberg, Zurich is looking to the issuance of read the full article →

Operational Re, Credit Suisse’s op-risk cat bond, settles at CHF220m

Investment bank Credit Suisse’s Operational Re Ltd. transaction, which uses a catastrophe bond structure to secure insurance via the capital markets for operational risk exposures, has now been successfully settled at  a size of CHF 220m (around $223m).A number of factors changed as the deal made its final progress to read the full article →

Credit Suisse operational risk cat bond target lowered to CHF200m

According to sources, investment bank Credit Suisse’s Operational Re Ltd. transaction, which looks to emulate the catastrophe bond to secure insurance via the capital markets for operational risk exposures, is now set to launch in the coming days as a CHF200m (approx US$205m) bond.Originally, Credit Suisse had targeted CHF630m of read the full article →

Credit Suisse operational risk cat bond SPI, Operational Re, registered

The special purpose insurance (SPI) vehicle has now been registered for investment bank Credit Suisse's Operational Re Ltd. transaction, which will see the firm look to secure insurance for its operational risks through a catastrophe bond-style ILS securitisation.Artemis first wrote about this transaction back in January when it became apparent read the full article →

Credit Suisse targets April for Operational Re ILS, splits to two tranches

The CHF630m operational risk insurance linked catastrophe bond or ILS structure Operational Re Ltd. is still being marketed by global investment banking group Credit Suisse, with April now being targeted for completion and the structure split into junior and senior tranches.This five-year CHF630m ILS transaction has been marketed to investors read the full article →

Credit Suisse offers CHF630m Operational Re Ltd. operational risk ILS

Credit Suisse is making progress in its mission to leverage the insurance-linked securities (ILS) market and the structure of a catastrophe bond as a way to secure risk capital to back its operational risk insurance needs, with this unusual deal now marketing as Operational Re Ltd., we understand.As we wrote read the full article →

Credit Suisse explores using ILS for operational risk insurance

Investment banking group Credit Suisse has turned to the insurance-linked securities (ILS) market as it looks to secure a source of capital market investor backed, fully-collateralised insurance and reinsurance protection to cover its operational risks.We understand that Credit Suisse is in the early stages of marketing and assessing investor interest read the full article →