Swiss Re is now aiming to secure as much as an upsized $345 million of broad North American peak peril retrocessional protection through its new Matterhorn Re Ltd. (Series 2026-3) catastrophe bond offering, while the price guidance for the notes has now been lowered twice, Artemis can report.
The global reinsurance giant returned to the catastrophe bond market in June, initially seeking $275 million of peak peril retrocession from what will become Swiss Re’s seventeenth takedown under its Bermuda-based Matterhorn Re catastrophe bond program.
We understand that the offering has been through two updates so far, first with Swiss Re increasing the size target slightly to as much as $285 million of retrocession, while at the same time lowering the price guidance for all five tranches of notes.
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