Target Market Determination (TMD)

ENAYBL Deposit Solutions Deposit Bond

Issuer: Swiss RE International SE, Australia Branch ABN 38 138 873 211 AFSL 355088
Product this TMD relates to
Deposit Bonds issued by ENAYBL Pty Ltd, trading as ENAYBL Deposit Solutions
TMD applies to policies commencing or renewing effective from
01.11.2026
First publication date of this TMD
01.11.2026
Information included in this TMD

This TMD describes:

  • the product and its key attributes
  • who this product is suitable for (the target market) and who it is unsuitable for (outside the target market)
  • how this product must be distributed, including any conditions and restrictions
  • reporting obligations for distributors
  • when this TMD will be reviewed.

Product Description

This product has been designed as a deposit guarantee, in lieu of a cash deposit, for customers to provide to a vendor of a residential or commercial property they wish to purchase.

Product: ENAYBL Deposit Solutions Deposit Bond

Target Market

This product is suitable for customers who:
✔
are purchasing a property in Australia and are required to pay a deposit of up to 10% of the property’s purchase price.
✔
are purchasing a property from a vendor who accepts deposit bonds.
✔
can demonstrate sufficient financial capacity to meet their deposit payment obligations in connection with the property purchase through sufficient available equity/assets, or hold unconditional finance for the property purchase.
This product is only suitable for customers where all the above apply.
This product is NOT suitable for customers who:
✖
wish to use their own funds to pay for the required deposit.
✖
are purchasing a property from a vendor who will only accept a cash deposit.
✖
require a deposit of more than 10% of the purchase price.
✖
are purchasing a property from a vendor who requires an early release of the deposit.
✖
do not hold sufficient financial capacity to meet their deposit payment obligations in connection with the property purchase through sufficient available equity/assets, or do not hold unconditional finance for the property purchase.
✖
are not Australian residents.
This product is not suitable for customers where any of the above apply.

Likely Needs, Objectives and Financial Situation of Customers in the Target Market and consistency with the product’s key attributes

Likely need and objectives of customers in the target market
Key Product Attributes consistent with likely needs and objectives of the target market
Likely need and objectives of customers in the target market

Require a financial guarantee to cover the deposit amount in lieu of a cash payment to the vendor for the purchase of a property due to either:

  • choosing not to use their own funds; or
  • using equity with minimal liquidity (For example, awaiting funds from an existing sale),

to pay for the deposit amount.

Key Product Attributes consistent with likely needs and objectives of the target market
The product provides an alternative to having immediate cash available for a property deposit. The product allows the customers in the target market to proceed with buying the property while they arrange financing or liquidate other assets.
Likely financial situation of customers in the target market
Key Product Attributes consistent with the likely financial situation of the target market
Likely financial situation of customers in the target market
Customers who have unconditional finance from an Australian based lender.
Key Product Attributes consistent with the likely financial situation of the target market
This product replaces the need to provide a cash deposit at the time of entering the property sale contract.
Likely financial situation of customers in the target market
Customers who have sufficient assets or financial resources to pay the deposit for the purchase of a property, but may not have cash readily available to pay the deposit at the time of entering into the sale contract.
Key Product Attributes consistent with the likely financial situation of the target market
This product provides an alternative to paying a cash deposit where sufficient equity is held in an existing property.
Likely financial situation of customers in the target market
Customers who have the financial capacity to pay for the cost of the Deposit Bond fee to Swiss Re.
Key Product Attributes consistent with the likely financial situation of the target market
Customers pay a one off fee to Swiss Re at the time the Deposit Bond is issued.
Based on Swiss Re’s assessment of the key terms, attributes and eligibility criteria, the Deposit Bond is likely to be consistent with the needs, objectives and financial situation of customers in the target market.

Distribution

This product has been appropriately designed to be distributed through
ENAYBL Pty Ltd (ABN 29 663 866 662), trading as ENAYBL Deposit Solutions. The product and the systems it is distributed through have been designed for a customer seeking a deposit bond through ENAYBL Deposit Solutions. ENAYBL Deposit Solutions has taken reasonable steps to understand the key product attributes and align distribution to customers in the target market.
Distribution Restrictions
This product can only be sold by ENAYBL Deposit Solutions.
Distribution Conditions

ENAYBL Deposit Solutions Deposit Bond can only be sold to persons that are eligible for the product in accordance with the application criteria that has been approved in writing by Swiss Re and which complies with the law (Application Process).

The Application Process has been tailored to identify the target market described in this TMD, including by assessing the customer’s residency, the amount of the required deposit and whether the customer has sufficient established equity/assets or financing at the application date to meet the financial requirements applicable to the Deposit Bond duration. The use of this Application Process will make it more likely that the product will be acquired by persons within the target market.

The Application Process is comprised of the following:

  • Application and underwriting procedures, with underwriting and eligibility controls, including the use of an Application Form and an assessment of financial capacity;
  • Underwriting guidelines.

This product can only be sold via Swiss Re approved underwriting and eligibility processes and controls. Any quoting outside the approved underwriting and eligibility controls must always be referred to a Swiss Re authorised representative for approval.

This product can be sold to customers within the target market without the customer being provided with any financial product advice or, with either general or personal advice.

Swiss Re and the distributors of the Deposit Bond, Enaybl Deposit Solutions, must make this TMD available free of charge.

Distribution Method

ENAYBL Deposit Solutions Property Deposit Bond can be sold via:

  • online at https://www.enaybl.com.au/;
  • via direct contact between the customer and Enaybl Deposit Solutions;
  • via a third-party intermediary.

ENAYBL Deposit Solutions Deposit Bonds is not available for customers to purchase directly from Swiss Re.

Reporting Obligations

Information
Responsible reporting person
Obligation
Information required to be reported
Reporting Period
Dealings outside the target market
Responsible reporting person
ENAYBL Deposit Solutions and Swiss Re
Obligation

ENAYBL Deposit Solutions will report to Swiss Re if it becomes aware of a dealing outside of the target market that is inconsistent with the TMD and which Swiss Re has not already approved.

Swiss Re will report to the regulator any significant dealing outside the target market that is inconsistent with the TMD.

Information required to be reported
  • The date (or date range) the dealing occurred;
  • Details about the dealing(s);
  • Any steps or actions taken to mitigate this dealing; and
  • Any steps or actions taken to stop or prevent any further dealings outside the target market from occurring.
Reporting Period
As soon as practicable and, by no later than 10 business days after the date Enaybl Deposit Solutions or Swiss Re becomes aware of the dealing.
Complaints and feedback
Responsible reporting person
ENAYBL Deposit Solutions and Swiss Re
Obligation

ENAYBL Deposit Solutions will report to Swiss Re complaints and feedback information received about the product.

Swiss Re will report any complaints or feedback information received about the product.

Information required to be reported
  • The number of complaints received about this product during the reporting period; and
  • A brief summary about the nature of every complaint received and any steps taken to address the complaint.
Reporting Period
Every 3 months.
Orders, directions or feedback from Regulator or AFCA
Responsible reporting person
ENAYBL Deposit Solutions and Swiss Re
Obligation
Any order, direction or feedback from a regulator or AFCA related to the product or how it is distributed.
Information required to be reported
Any order, direction or feedback from a regulator or AFCA related to the product or how it is distributed.
Reporting Period
As soon as practicable and, by no later than 10 business days after the date the feedback, direction or order was received.
Periodic Product Review Outcomes
Responsible reporting person
Swiss Re
Obligation
Outcomes from the Periodic Product Reviews conducted
Information required to be reported
  • Data reviewed;
  • Data analysis outcomes; and
  • Review outcome decisions
Reporting Period
Every 2 years or sooner if the review was conducted prior.

TMD Review

TMD Reviews
Information Swiss Re will use to review the TMD
Review Period
The first review of this TMD will be completed within 12 months after the date it is first published.  Each subsequent review will be completed within 2 years after completion of the preceding review.
What may trigger a review prior to periodic review

The events or circumstances that may trigger a review prior to a scheduled periodic review date include Swiss Re becoming aware of:

  • the nature or number of complaints or feedback provided about the product’s design or distribution that indicate significant or systemic issues, reasonably suggesting the TMD is no longer appropriate;
  • a material increase in the number of unsuccessful Deposit Bond applications or referrals to Swiss Re for quoting outside the approved underwriting and eligibility controls;
  • a material change to the product (including the Application Process) or distribution conditions, or to the information or the assumptions which the target market is based on, which reasonably suggests the TMD is no longer appropriate;
  • a material incident in relation to the product’s design and distribution which reasonably suggests the TMD is no longer appropriate;
  • any:
    • change of relevant legislation, regulations or regulatory guidance; or
    • direction or order from a regulator or AFCA related to the design of the product or its distribution,
    that reasonably suggests the TMD is no longer appropriate;
  • a significant dealing outside the TMD occurring that reasonably suggests the TMD is no longer appropriate.
Swiss Re International SE is a company incorporated in Luxembourg and registered in Australia under Australian Business Number 38 138 873 211
This TMD is published 01/11/2026