Jardine Lloyd Thompson Capital Markets (JLTCM), part of JLT Re, has arranged another private placement catastrophe bond, Market Re 2015-1, which closed at $10 million.
The new bond provides one year indemnity-based collateralised 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 JLTCM.
“For investors, Market Re creates a tradable instrument that can provide the opportunity for liquidity.”
Michael Popkin, also managing director and co-head of insurance-linked securities 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.”
