Insight and Intelligence on (Re)insurance Convergence with the Capital Markets

21 May 2012

Swiss bank issues $20mn cat bond ‘lite’

23 August 2010

Leading ILS investor Clariden Leu has closed a groundbreaking ILS transaction, using the securitisation power of its Swiss bank franchise to transform insurance risk into much-needed investments for its flagship Cat Bond Fund, Trading Risk can reveal.

The $20mn transaction, which closed on 19 August, transformed a second event US All Natural Perils industry loss warranty (ILW) with a $15bn loss trigger into a cat bond, which is fully tradable in the secondary market.

The un-named ILW protection buyer entered...

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