Swiss Re places insurance-linked securities for hurricane and earthquake

Swiss Re Capital Markets placed $240 million in insurance-linked securities to a subsidiary of Allianz SE to cover earthquake risks in the United States and Canada, as well as potential losses from North Atlantic hurricanes.

The transaction issued two classes of notes, each covering hurricane and earthquake for a risk period of three years.

“We are very pleased to be able to support Allianz SE with their risk transfer needs, providing them with a multi-year solution covering exposure to peak hurricane and earthquake perils in the North Atlantic and North America,” said Jean-Louis Monnier, director and head of ILS Europe at Swiss Re Capital Markets.