Jardine Lloyd Thompson Capital Markets (JLTCM) Inc., a part of JLT Towers Re, announced its second Market Re private placement cat bond (Market Re 2014 -2), which closed at $31.825 million.
JLT said the “new bond provides one year indemnity-based collateralized catastrophe reinsurance coverage for the cedant’s Florida book of business and was accomplished via two separate classes.”
Michael Popkin, Managing Director and Co-Head of Insurance-Linked Securities at Jardine Lloyd Thompson Capital Markets, commented: “Since launching the Market Re platform in May, we have seen considerable interest from both cedants and investors. By increasing the efficiency of the overall issuance process, we have opened the market to new cedants to begin to engage with the capital markets.”
“Market Re is a flexible platform that allows for highly customized solutions for our clients,” added Rick Miller, Managing Director and Co-Head of Insurance-Linked Securities at Jardine Lloyd Thompson Capital Markets. “We expect to see the velocity of Market Re private cat bond transactions continue to increase.”
Ed Hochberg, CEO of Jardine Lloyd Thompson Capital Markets said: “We are very excited to see that JLTCM continues to develop innovative structures which further reduce frictional expenses. These developments provide many more cedants with capacity from the capital markets that would otherwise be inaccessible.”
Source: Jardine Lloyd Thompson Capital Markets (JLTCM)
Topics Catastrophe Florida New Markets
Was this article valuable?
Here are more articles you may enjoy.
NY Archdiocese Can Depose Chubb CEO Greenberg in Clergy Abuse Claims Case 
Half of Pilots Killed in US Accidents Tested Positive for Drugs 
Texans Hate Data Centers So Much They Are Asking Jesus for Help 
The Big Dog Is Off the Tech Porch: State Farm as ‘Next Gen Good Neighbor’ 
