Swiss Reinsurance Company says it has succeeded at securitizing a substantial amount of extreme mortality risk for the third time in less than 12 months.
Swiss Re, Zurich, says it has transferred about $175 million in mortality risk through the Vita Capital IV Ltd. securitization program.
Swiss Re sold notes linked to Vita IV through a private placement.
Through the Vita IV notes, Swiss Re can get payments of up to $100 million in the event of severe mortality in the United States or Japan, and up to $75 million in the event of severe mortality in Canada or Germany.