Swiss Re
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The firm has already raised over $600mn from two Matterhorn Re cat bonds issued earlier this year.
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Its pandemic maximum loss is projected at half the levels from a North American hurricane.
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The three ILS-backed syndicates at Lloyd’s narrowed their losses in 2019. -
The reinsurer joins a large panel of providers for the Dutch firm as it has been growing its third-party assets.
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The move would put a non-insurance figure in charge of the world’s largest reinsurance company.
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The group CUO stressed that returns shouldn’t be judged on a one-year period.
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Large cat and man-made losses for the year amounted to $2.3bn.
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Pricing slipped to the lower ends of the guidance ranges as the reinsurer upsized a hurricane tranche of the trade, sources said.
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The cat bond covers hurricane and extreme mortality risks, according to sources.
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Reinsurers pegged 2019 nat cat losses 23 percent lower than the 10-year average, but prior-year disasters created headlines.
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The retro transaction priced below the target range, according to sources.
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The loss tally includes a $7bn loss estimate for Typhoon Faxai and $8bn for Typhoon Hagibis.
