Swiss Re arranges $240 million ILS deal for Allianz SE

Swiss Re Capital Markets has structured and placed $240 million of insurance-linked securities on behalf of an Allianz SE subsidiary.

The insurance-linked securities were issued by Blue Danube, and involved two classes of notes, each covering hurricane and earthquake for a risk period of three years. The bonds were structured on behalf of Allianz Argos 14 GmbH, a wholly owned subsidiary of Allianz SE.

“We are very pleased to be able to support Allianz SE with their risk transfer needs, providing them with a multi-year solution covering exposure to peak hurricane and earthquake perils in the North Atlantic and North America,” says Jean-Louis Monnier, director and head of ILS Europe at Swiss Re Capital Markets.