RiskEvents
ClosedMedium impactAI Refreshed

Swiss Re Launches $275M Matterhorn Re 2026-3 Cat Bond for North American Retrocession

Occurred 19 Jun 2026·Detected 19 Jun 2026·
🇺🇸 North America (US states and Canada), with specific tranches covering California earthquake, all-US-states/DC/Canada earthquake and named storm, and northeast US named storm1 reportEnded 19 Jun 2026
Natural CatastrophePropertyEnergy

Swiss Re is sponsoring Matterhorn Re Ltd. Series 2026-3, targeting $275 million of broad North American peak peril retrocessional protection across a five-tranche catastrophe bond offering. The notes provide industry-loss index triggered coverage for US and Canadian earthquake and named storm perils, with terms ranging from a single hurricane season to four years. Initial price guidance and attachment probabilities have been disclosed; final pricing and sizing remain subject to investor demand.

AI-generated from linked source reports. See our correction policy.

Impact verdict

Medium impact. This is a capital markets / retrocession capacity transaction, not a loss event. The $275M multi-tranche issuance across US/Canada earthquake and named storm at industry-loss index attachment points of $20-100bn signals continued investor appetite for peak peril retro and active capital supply into the catastrophe bond market. It is relevant to Property portfolio monitoring for retrocession pricing benchmarks and capacity trends, but should not be interpreted as an insured loss signal.

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Geographic Zone Matches

3 active matches

  • TRIA Certified Areas
    Rule-basedConfidence 100%
  • Pacific Ring of Fire
    Rule-basedConfidence 100%
  • Caribbean Hurricane Zone
    Rule-basedConfidence 100%

Geographic zone matches are RiskEvents spatial/analytical indicators, not coverage determinations or Lloyd's official classifications.

Affected countries

🇧🇲 Bermuda🇨🇦 Canada🇺🇸 United States

Lloyd's classifications

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