6 May 2015 Alternative Risk Transfer

JLTCM arranges Market Re cat bond

Jardine Lloyd Thompson Capital Markets (JLTCM), part of JLT Re, has arranged private placement catastrophe bond Market Re 2015-1.

The cat bond, which closed at $10 million, provides one year indemnity-based collateralised catastrophe reinsurance coverage for the cedant’s Florida book of business.

JLTCM established Market Re in 2014 to continue to make the capital markets more accessible to issuers looking to do smaller-sized cat bonds.

Rick Miller, managing director and co-head of insurance-linked securities (ILS) at JLTCM, said:“At JLTCM, we remain focused on keeping down the costs of doing transactions, which allow us to efficiently execute deals of different sizes. For investors, Market Re creates a tradable instrument that can provide the opportunity for liquidity.”

Michael Popkin, managing director and co-head of ILS at JLTCM, added: “As the Market Re platform broadens, we are seeing its versatility. We continue to work closely with our partners to simplify the process and reduce the frictional costs of bringing cedants to market. As we lower the barrier for cedants, we are finding attractive risks for the dedicated ILS investors.”

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