Credit Suisse’s op risk is sold to investors once more

By Jasper Cox
14 Apr 2020

A new insurance-linked security (ILS) gives investors exposure to Credit Suisse’s operational risk: the third trade of its type covering the Swiss bank and the biggest one yet. Credit Suisse can receive relief on regulatory capital from insurance policies related to non-financial risk.

Credit Suisse launched the deal, called Operational Re III, this month. The $461m ILS replaces two previous transactions from 2016 and 2018, that were sized at Sfr220m ($228m) and Sfr146m respectively. These have been redeemed this month, according to the bank.

The trade was executed on ...

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