Swiss Re wins “Catastrophe Risk Management Deal of the Year” award for innovative transaction

Environmental Finance magazine recognized Swiss Re Capital Markets’ (SRCM) Successor X deal with the “Catastrophe Risk Management Deal of the Year” award in July 2010. Environmental Finance magazine’s Annual Awards are designed to acknowledge excellence in the application of capital markets know-how to addressing the world’s environmental problems.

In March 2010, SRCM placed USD 120 million of natural catastrophe protection through Swiss Re’s existing Successor X Cat Bond programme. This transaction marked the first time a cat bond utilized the newly developed PERILS index for European windstorm losses.

PERILS AG, an independent Zurich-based company, was established in 2009 to aggregate and provide industry-wide European catastrophe insurance data as a subscription service. Swiss Re was one of the founding members of PERILS AG and currently retains a member seat on the board of directors.


Environmental Finance’s awards are based on nominations from the publication’s readership, and are judged by magazine’s editorial team in conjunction with an informal panel of market experts. Criteria for the awards included perceived innovation, reception from other parties in the market, likelihood of opening up part of the market among other guidelines.

SRCM, an affiliate of Swiss Re, is a broker/dealer registered with FINRA. SRCM and Swiss Reinsurance Company have been primary catalyses in the growth and innovation for the insurance-linked securities (ILS) sector since its inception.

Environmental Finance is a monthly magazine covering the ever-increasing impact of environmental issues on the lending, insurance, investment and trading decisions affecting industry. It is the only global publication dedicated to this fast-changing area.