The next Market Re private placement cat bond by Jardine Lloyd Thompson Capital Markets (JLTCM), Market Re 2014-4, has closed at $30 million via two separate classes.
The new bond provides two year collateralised catastrophe coverage for North American earthquake exposure.
“We continue to see the momentum of deals increasing. Both cedants and investors are recognising the opportunity and value of transacting via cat bonds,” commented Michael Popkin, managing director and co-head of Insurance-Linked Securities (ILS) at JLTCM.
“With each transaction, we are expanding the number of investors who are familiar with the Market Re platform.”
Rick Miller, also managing director and co-head of ILS at JLTCM, said: “Market Re allows us to customise 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.”
