Matterhorn Re Ltd., registered as a Special Purpose Insurer in Bermuda, has via a segregated account launched its first catastrophe bond of 2020 under the sponsorship of Swiss Re by the offering of USD 175 million Series 2020-1 Class A Principal At-Risk Variable Rate Notes due December 7, 2021 USD 175 million Series 2020-1 Class B Principal At-Risk Variable Rate Notes due December 7, 2021. The cat-bond structure will be used to support losses caused by named storms in the US.
This represents Swiss Re's exciting return to the cat-bond market in 2020 following the successful launch of its 2019-1 catastrophe bond, also through Matterhorn Re Ltd.
Partner Brad Adderley led the deal with assistance from Senior Associate Josephine Noddings.
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