‘Landmark' parametric earthquake catastrophe bond comes to market


A deal to bring a “landmark” parametric catastrophe bond, designed to protect against mortgage default caused by earthquakes and issued by issued by Sierra Ltd on behalf of Bayview's MSR Opportunity Fund (Bayview), has closed bringing $225 million Series 2020-1 principal at-risk variable rate notes to market.

Bayview, Sierra Ltd, Swiss Re, Funding, Catastrophe, Insurance, Reinsurance, ILS, Jean-Louis Monnier, Bermuda

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