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17 May 2012

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The Hartford and Swiss Re kick off 2011 fundraising

14 February 2011

Swiss Re raised $305mn from issuing two tranches of Successor X notes, providing the firm with three years of cover for US wind and California quake perils.

The US wind coverage is based on a PCS industry loss trigger, while the quake exposure will be triggered by a parametric calculation.

Swiss Re's last Successor issue in December 2010 raised $170mn, with the speed of the latest fundraising demonstrating continued investor appetite for new cat bond capacity.

This bodes well for...

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