(Photo: Shutterstock) (Photo: Shutterstock)

Swiss Re Capital Markets announced Monday it closed a $225 million parametric catastrophe bond for Bayview's MSR Opportunity Fund (Bayview). The first-of-its-kind bond is designed to cover mortgage default risk caused by earthquakes in California, Oregon, Washington, and South Carolina.

Want to continue reading?
Become a Free PropertyCasualty360 Digital Reader

  • All PropertyCasualty360.com news coverage, best practices, and in-depth analysis.
  • Educational webcasts, resources from industry leaders, and informative newsletters.
  • Other award-winning websites including BenefitsPRO.com and ThinkAdvisor.com.
NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.