Swiss Re Closes First Cat Bond With Cash Reserve

02 Jul 2008

Swiss Re has closed the first catastrophe bond with a cash reserve account.

-- Olivia Thetgyi

Swiss Re has closed the first catastrophe bond with a cash reserve account. The reserve account protects investors from losses in the $150 million Vega Capital and contributes to the class A and B notes’ investment-grade rating, said Cameron Heath, an analyst at Standard & Poor’s.

The ...

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