Published in Law and Health Weekly, February 9th, 2008
The bond is the first ever linked to Central American earthquakes. The initial offering of notes by GlobeCat Ltd. closed on Dec. 21, 2007. The risk modelling company EQECat is used as the calculation agent and for the initial risk analysis.
As part of an ongoing program, Swiss Re's Capital Markets structured and placed the securitisation and acted as the sole book runner for the initial $85 million offering. The first two tranches of the issuance cover losses due to catastrophic...
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