Swiss Re launches inaugural trend risk securitisation

Trend risk the latest form of longevity exposure to be securitised


The $50 million (£32 million) longevity trend bond issue by Zurich-based Swiss Re at the end of December through Kortis Capital, an insurance-linked securities financed company in the Cayman Islands, could herald a post-crisis revival of short-term indexed-based securitisations.

The bond will be indexed against a trend in data for two population clusters - males aged 75-85 in England & Wales and males aged 55-65 in the US. This represents Swiss Re's longevity exposure from its UK longevity swaps

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