Risk Management Solutions gave details of the recent analysis it conducted for a securitization of windstorm risk in France.
The securities were issued through Green Valley Ltd., a special purpose vehicle (SPV), and provide €200 million ($298 million) of collateralized cover over three years for Swiss Re on behalf of Groupama S.A., as part of a program structured and placed by Swiss Re Capital Markets [See IJ web site - http://www.insurancejournal.com/news/international/2008/01/08/86200.htm] .
RMS explained that the program is triggered by a parametric index it designed that is based on recorded wind speeds at various locations. “This deal illustrates how the RMS parametric solution has been tailored to cover a unique portfolio with significant agricultural exposure to windstorm risk,” commented Fathia Grandjean, Director at RMS.
“Investors and sponsors continue to show interest in transparent, straightforward parametric risk-transfer solutions,” added Peter Nakada, managing director of RMS Consulting. “We look forward to bringing more new and exciting solutions like this to the market this year.”
RMS also noted that the “deal is the largest ever placement of French windstorm risk of its kind offered in the insurance-linked securities market.”
Source: RMS – www.rms.com.
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