Swiss Re gets $275 million extreme mortality protection

Swiss Re has announced the successful transfer of $275 million of extreme mortality risk to the capital markets through a securitisation programme with VITA Capital V Ltd.

The arrangement covers a five-year risk period starting in the issuance year and ending in 2017.

This latest Vita issuance extends the geographic coverage by including Australia for the first time.

“The continuing success of each Vita placement demonstrates its effectiveness in managing Swiss Re's capital and peak risk exposure, which further increases our ability to meet client needs,” said Matthias Weber, chief underwriting officer at Swiss Re.