Jardine Lloyd Thompson Capital Markets (JLTCM) Inc., part of JLT Re, has arranged a private placement catastrophe bond, Market Re 2015-1, which closed at $10 million. The new bond provides one year indemnity-based collateralized catastrophe reinsurance coverage for the cedant’s Florida book of business. Market Re was established in 2014 to continue to make the capital markets more accessible to issuers looking to do smaller-sized cat bonds.
“At JLTCM, we remain focused on keeping down the costs of doing transactions, which allow us to efficiently execute deals of different sizes,” said Rick Miller, managing director and co-head of Insurance-Linked Securities at Jardine Lloyd Thompson Capital Markets.
“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,” commented Michael Popkin, managing director and co-head of Insurance-Linked Securities at Jardine Lloyd Thompson Capital Markets. “As we lower the barrier for cedants, we are finding attractive risks for the dedicated ILS investors.”
Jardine Lloyd Thompson Capital Markets, Inc. is a wholly owned subsidiary of Jardine Lloyd Thompson Group and is part of JLT Re. It advises clients in the areas of risk-linked securities, collateralized reinsurance, and other risk transfer solutions involving securities and other capital markets instruments. JLT Re is a global provider of reinsurance broking and capital solutions.
Topics Florida Catastrophe
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