JLT Capital Markets closes $25m cat bond


Jardine Lloyd Thompson Capital Markets (JLTCM), part of JLT Re, has closed another catastrophe bond via its Market Re private placement platform.

Market 2016-4, which closed at $25 million, provides one year indemnity-based collateralised catastrophe reinsurance coverage for the cedant’s Florida book of business. The transaction has one class and will act as a second limit cover.

Michael Popkin, managing director and co-head of insurance-linked securities (ILS) at JLTCM, said: “We continue to see Market Re enable clients to transfer different risk/return portions of their reinsurance towers to capital market players.”

Rick Miller, managing director and co-head of ILS at JLTCM, added: “With the increasing success of Market Re as a leading private placement vehicle, we expect corporate clients to access capital markets capacity, especially as JLT Specialty USA continues to grow.”

JLTCM, JLT Re, Catastrophe, Market Re, North America, London, UK, Insurance, Reinsurance

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