Kane cat bond platform hits $135m

Insurer Kane has issued $135 million of outstanding notes via its private catastrophe bond platform, Kane SAC.

The latest transactions, which include $7.3 million Series 2-2014 and $9.2 million Dodeka III, bring the total to seven issuances since the platform’s launch in 2013.

Commenting on the new listings, Robert Eastham, managing director, Kane (Bermuda) said: “We are delighted to be able to announce a further two note issuances through the Kane SAC note programme as we approach our first anniversary. Our success in this relatively short period shows that the platform is becoming a market-recognised means of facilitating the flow of smaller, cost-effective transactions into the capital arena.”

Both sets of notes have been listed on the Bermuda Stock Exchange (BSX), bringing the total to $137.2 million.