Swiss Re Capital Markets has closed a $US100 million ($144 million) catastrophe bond in Singapore, which is striving to grab a share of the lucrative insurance-linked securities market.

The bond has a four-year risk period, starting this month, covering named storms and severe thunderstorms in Florida.

“Swiss Re is excited to… contribute to the development of Singapore as a global financial hub and promote a vibrant insurance-linked securities market in the region,” CEO Reinsurance Asia Jayne Plunkett said.

“This cat bond also underscores Singapore’s capabilities in facilitating such a transaction.”