Swiss Re again named ILS Advisor of the Year

The ILS team in NY stays on trend and wins Reactions Magazine's "ILS Advisor of the Year" award for a second consecutive year. The ILS team accepted the accolade at the publication's 11th annual Global Awards ceremony, held in New York City on September 19.

Swiss Re has received this recognition which was awarded due to a number of innovative deals and the high volume of issuances closed in 2012.

Judy Klugman, Head of ILS Distribution & Sales, and Markus Schmutz, Head of ILS Structuring & Origination, accepted the accolade at the ceremony which was attended by more than 200 industry executives.

Reactions is a widely-read global publication that covers the insurance and reinsurance industry and the awards are decided by Reactions' editorial panel, guided by reader polling and conversations with market participants and analysts. 

Michael Loney, managing editor at Reactions said: “Judy Klugman and Markus Schmutz form an innovative structuring team that showed an outstanding performance with a clear focus on the needs of their clients during the past 12 months. This resulted in an impressive amount of transactions and tranches successfully closed in 2012.”

Judy Klugman said: “It’s a testament to the hard work and strong commitment of the ILS team to receive this award again in 2012. We all believe that cat bonds have a valuable role to play in our clients' risk transference strategies, and the market has demonstrated that it has an appetite for this instrument."

Markus Schmutz: "2012 was a very positive year for the whole ILS market. This year will mark the first year since 2007 with overall growth in the total outstanding amount of catastrophe bonds. The market saw a high amount of cat bond issues, covering US hurricane risks, as well as significant non-peak peril. We remain very optimistic regarding the ILS market moving forward.”

As a leader in Insurance-Linked Securities (ILS), Swiss Re Capital Markets (SRCM) is the market leader in cat bond issuance, having structured 48% of all deals issued since 2007. SRCM is highly committed to the development of a market for liquid, transparent and tradable insurance-linked risk products, leveraging Swiss Re's re/insurance and capital markets experience.

In March 2012 Swiss Re Capital Markets successfully transferred USD 200 million in aggregate multi-peril natural catastrophe risk to capital markets through Combine Re Ltd. This was the first catastrophe bond combining the risk of two reinsured parties into a single transaction and marked an important innovation in better enabling insurers to access the catastrophe bond market.

In the U.S., securities products and services are offered through Swiss Re Capital Markets Corporation, a registered broker dealer and a member of FINRA and SIPC. Swiss Re Capital Markets Limited is authorized and regulated in the U.K. by the Financial Services Authority. Both Swiss Re Capital Markets Corporation and Swiss Re Capital Markets Limited, together SRCM are wholly owned subsidiaries of Swiss Reinsurance Company Ltd.