BRUSSELS/FRANKFURT/PARIS (dpa-AFX) - Swiss Re (SSREY.PK) announced it has successfully closed a multi-year stop-loss transaction with funding led by J.P. Morgan. The deal provides Swiss Re with $700 million in underwriting protection.
Swiss Re stated that the stop-loss transaction provides protection for severe underwriting losses across the Group for the financial years 2023-2027.
The Group expects the transaction to have a positive benefit for its regulatory and ratings capital requirements. Swiss Re noted that the transaction has been structured with the potential to increase to $1 billion in size.
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