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What's happening in insurance today? From market changes and M&A activity to new coverages, the insurance industry is ever-evolving. To stay up-to-date on the business, these articles, which are curated quarterly, will help insurance professionals maintain a competitive edge.

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Swiss Re issues first-of-its-kind bond to cover mortgage risk from earthquakes

The transaction is the first catastrophe bond with this specific use-case since the market's inception.

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(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.

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Danielle Ling

Danielle Ling

Danielle Ling is an experienced video journalist and business reporter. As Associate Editor of NU Property & Casualty magazine and NU Propertycasualty360.com, Danielle manages all multimedia and reports on industry news and risk-related coverage, managing all weather-related content. Danielle heads PC360's video production, producing news packages, video interviews, and animated videos. A University of Maryland and Philip Merrill College of Journalism alum, prior to this role, Danielle served as a video journalist for Verizon FiOS 1 News NJ on the show "Push Pause." Connect with Danielle on LinkedIn or email her at dling@alm.com.

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