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.”
Already registered?
Login to your account
If you don't have a login or your access has expired, you will need to purchase a subscription to gain access to this article, including all our online content.
For more information on individual annual subscriptions for full paid access and corporate subscription options please contact us.
To request a FREE 2-week trial subscription, please signup.
NOTE - this can take up to 48hrs to be approved.
For multi-user price options, or to check if your company has an existing subscription that we can add you to for FREE, please email Elliot Field at efield@newtonmedia.co.uk or Adrian Tapping at atapping@newtonmedia.co.uk