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Combine Re Bondholders Safe from Payout: Moody's

Investors who brought a specialist bond designed to protect Swiss Re from natural disaster claims will not lose money over superstorm Sandy, rating agency Moody's said.

By Sarah Mortimer, Reuters | Updated on November 13, 2012

LONDON (Reuters) – Investors who brought a specialist bond designed to protect Swiss Re from natural disaster claims will not lose money over superstorm Sandy, rating agency Moody’s said.

Swiss Re sold $200 million worth of the catastrophe bond in March to investors who took on potential liability for claims on two of its insurer customers in the United States, the Country Mutual Insurance Company and the North Carolina Farm Mutual Insurance Company.

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