Market Re completes new $30m cat bond

Jardine Lloyd Thompson Capital Markets (JLTCM) has closed another Market Re private placement cat bond (Market Re 2014 -4) at $30 million via two separate classes.

The new bond provides two year collateralised catastrophe coverage for North American earthquake exposure.

Michael Popkin, managing director and co-head of insurance-linked securities (ILS) at JLTCM, said: “We continue to see the momentum of deals increasing. Both cedants and investors are recognising the opportunity and value of transacting via cat bonds. With each transaction, we are expanding the number of investors who are familiar with the Market Re platform.”

Rick Miller, managing director and co-head of ILS at JLTCM, said: “Market Re allows us to customize risk transfer for our clients and then convert these into cat bonds in a scalable way that makes it efficient for cedants and investors alike. The Market Re transactions are definitely enabling us to open up the cat bond market to more cedants.”

Ed Hochberg, chief executive officer of JLTCM, added: “We are excited to see the continued evolution of the Market Re platform and its ability to deliver diversifying risks into the capital markets.”