Swiss Re Inks $100M ILS Deal Under New Singapore Regs
Law360, London (May 28, 2019, 9:07 PM BST) -- Reinsurance giant Swiss Re Capital Markets said Tuesday that it has inked a $100 million catastrophe bond for a Florida home insurer, in what it said is the first such deal under Singapore's new regime designed to foster the insurance-linked securities market.
The Zurich-based insurer structured and placed the catastrophe bond for Security First Insurance Co., a Florida-based home insurer that offers policies for major but unlikely disasters like storms, flooding and hurricanes.
Swiss Re's U.S. branch helped link investors to the insurance product, which the reinsurer called the first of its kind under Singapore's relatively new rules for insurance-linked securities....
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