Swiss Re has done a $200 million 144A multi-peril natural catastrophe risk deal via Combine Re. This offering is the first catastrophe bond to combine the risks of two reinsured parties.
Combine Re is a newly-established catastrophe bond vehicle. This is the first catastrophe bond that brings together the risk of two reinsured parties into a single offering. It also serves as a key innovation to give insurers access to the catastrophe bond market.