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Swiss Re Gets $1.15 Bln In Protection For Severe Underwriting-related Losses

Swiss Re (SSREY.PK) has successfully closed a multi-year stop-loss transaction, which covers underwriting risks across the entire Swiss Re Group. The financing was ultimately provided by J.P. Morgan and various institutional investors. Swiss Re now has protection from severe underwriting losses for the financial years 2022-2026.

The deal uses a segregated account of the existing Matterhorn Re Ltd. special purpose insurer vehicle. J.P. Morgan provided $1 billion financing via a senior loan, while various institutional investors will participate via a $150 million investment in
junior insurance-linked notes issued by the segregated account.

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