Swiss Re Corporate Solutions reinsured part of the US DFC’s political-risk cover on the 2023 Gabon Blue Bond, and Swiss Re co-developed and reinsured the first parametric insurance for a coral reef, in Quintana Roo, Mexico [MS].
Right of reply
This page describes Swiss Re only through its published statements and the public records of the deals listed. Swiss Re has not yet been invited to comment. Responses and corrections will be recorded here with their date. On register pages, [MS] marks a claim that rests only on the institution’s own statement or on statements by parties to the same deal.
In the register
The register follows instruments whose terms depend on a verified ecological outcome, the broad family of the performance-based bond. The register index explains its tiers, roles and claim tags.
| Deal | Year | Family | Role | Amount | Claim |
|---|---|---|---|---|---|
| Gabon Blue Bond | 2023 | Debt-for-nature conversion | Reinsurer of US DFC political-risk cover (Swiss Re Corporate Solutions) | Share of about US$250m private panel | [MS] |
| Quintana Roo reef parametric insurance | 2019 | Adjacent | Reinsurer and co-developer | US$850,000 payout after Hurricane Delta (2020) | [MS] |
Swiss Re and DFC each state the Gabon panel [MS]. The Quintana Roo policy pays when wind speeds of 96 knots or more pass within 60 kilometers of the reef; premiums come from the state and a hotel levy [MS]. Swiss Re’s own research positions on nature and losses were not researched for the register.
What it has said
Swiss Re ties the Quintana Roo cover to the reef’s role in the state’s tourism economy and in protecting the coast from disasters and erosion [MS].
Open questions
Dialogue Earth puts the 2020 payout at “almost US$800,000” against Swiss Re’s US$850,000 [TBV]. Accounts differ on whether Seguros Banorte or Seguros Afirme was the primary insurer [TBV].
Related
- Nature Performance Bond Investor Register
- AXA
- Chubb
- Munich Re
- US International Development Finance Corporation
- The Nature Conservancy
References
- Swiss Re, blue bond for ocean conservation in Gabon
- DFC, political risk insurance for Gabon blue bond (2023)
- Swiss Re, Mexico windstorm cover for the Quintana Roo reef
- Dialogue Earth, can innovative insurance help protect coral reefs
Provenance
Drafted on 15 October 2026 from the research brief Nature performance bond investors.md, compiled the same day from five research strands: outcome-linked and sustainability-linked bonds, environmental impact bonds, debt-for-nature conversions, insurers and reinsurers, and the largest asset managers with their regulatory context. Claim tags follow the brief, which never upgraded a claim without a source and lowered to [MS] any claim a research note had graded [IC] on the strength of a company’s own release. The headquarters country in based_in comes from general knowledge unless a deal record states it, and is to be confirmed. The brief’s search had limits: fund holdings filings, municipal bond disclosures and the Oxford INDIGO and Brookings impact bond databases were not searched, so a deal missing from this page may exist.