ECONOMIC CATASTROPHE
SUBCLASSES
- Structured Credit – contingent non payment
- Surety products
TARGET CLIENTS
- Banks
- Corporates
- Funds
APPETITE
- Providing bespoke solutions to client needs that are
driven by regulatory requirements rather than risk - Use of an unfunded protection to facilitate lower
funding costs - Contingent credit exposure where high quality data
supports the remote risk attachment
COVER
- Non-payment protection on a contingent basis – multiple
events required in order to trigger cover under the policy - The policy is designed as capital relief or to facilitate
efficient financing
Insurance and Facultative Reinsurance Basis
CAPABILITIES
- Normal Max Line Size USD 150m per policy
- Normal Max Tenor 15 years
CASE STUDIES
- A bank holding illiquid assets that it wants to raise cash
against and requires insurance to add an additional
layer of protection to the cash provider - Covering non-payment of a portfolio of emerging
market loans on a tranched basis for a top tier bank - Insurance cover of non-adherence to cash calls by
(strong) shareholders - Replacement of cash collateral with surety product for
regulatory required security