Kane has made four new issuances on its independent private catastrophe bond platform, the Kane SAC Limited Note Program. The issuances total $125,840,000.
The Exeter Segregated Account amounts to $54,810,000 and is due on 15 January 2016, while the Troon Segregated Account totals at $27,530,000 and is due on 12 January 2016.
The Muirfield Segregated Account amounts to $26,680,000 and the smallest of the four, the Hereford Segregated Account, stands at $16,820,000. These are both also due on 12 January.
All of the notes have been listed on the Bermuda Stock Exchange (BSX).
This brings the total number of issuances to have taken place on Kane’s catastrophe bond platform to 11 since its launch in August 2013.
Robert Eastham, managing director at Kane (Bermuda), said: “The announcement of four new issuances on the Kane SAC platform serves to demonstrate that the program is meeting a very clear market demand for the ability to transact smaller capital market deals in an efficient and cost-effective manner.”
“We expect to see strong growth in this area moving forward given the growing influence of the investment community in the insurance arena.”
