Swiss Re has announced that it has obtained $950m protection against North Atlantic Hurricane, Europe Windstorm, Californian Earthquake and Japan Earthquake through a natural catastrophe protection programme named Successor.
The programme is the follow-up vehicle to the PIONEER and Arbor programmes.
The main distinguishing factor of the Successor programme is the risk spectrum and triggers available across each of the perils. Investors can choose between different risk layers and trigger options.
Jacques Aigrain, Swiss Re CEO said: “Successor represents the next generation of cat bond programmes for Swiss Re. It provides us with protection against lower-layer earnings volatility events as well as higher-layer capital events.”
