[Sorry, it’s a forward so I can’t link the original…]
“Munich Re has launched a bond programme under which $1.5bn in extreme mortality risk will be transferred to the capital markets…. Munich Re said that the programme would protect it against an exceptional rise in mortality after a major pandemic or similar event in the US, Canada, England & Wales, and Germany.”
I’m glad payouts are triggered by Germany as well. Still, it’s going to piss the hell out of the insurees if the bioterrorists go for Bermuda, Scotland, NI and the Netherlands…