Swiss Re made two major transactions this week, investing in Asian insurance products and underwriting a European windstorm catastrophe bond.
On Oct. 15, Swiss Re Capital Markets, the reinsurer's broker dealer arm, underwrote a $474 million insurance-linked security deal, issued by Calypso Capital II Limited on behalf of AXA, in order to cover European windstorms.
The transaction covers Europe windstorm losses via $250 million in Class-A notes with a three-year risk period and $223 million in Class B notes with a four-year risk period.
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