Jardine Lloyd Thompson Capital Markets Brings Market Re 2015-1, a $10 Million Catastrophe Bond
04 May 2015
New York: Jardine Lloyd Thompson Capital Markets (JLTCM) Inc., which is part of JLT Re, a leading global reinsurance brokerage firm, announced it has arranged another 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. “For investors, Market Re creates a tradable instrument that can provide the opportunity for liquidity."
"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."
-- ENDS --
Notes to Editors
Tel: (+44) 20 7558 3387/ (+44) 7920 586 032
About Jardine Lloyd Thompson Capital Markets, Inc.
Jardine Lloyd Thompson Capital Markets, Inc. is a wholly owned subsidiary of Jardine Lloyd Thompson Group and is part of JLT R. It advises clients in the areas of risk-linked securities, collateralized reinsurance, and other risk transfer solutions involving securities and other capital markets instruments.
About JLT Re
JLT Re is a global provider of reinsurance broking and capital solutions. Delivering world class solutions and service whilst differentiating clients from their peers, JLT Re has 700 professionals across 14 countries.
New clients and new employees continue to join, attracted by specialist broking, consultancy and analytical capability, increased market presence and a collaborative and energetic approach.
JLT Re is part of the Jardine Lloyd Thompson Group plc.
About Jardine Lloyd Thompson Group plc
Jardine Lloyd Thompson is one of the world’s leading providers of insurance and employee benefits related advice, brokerage and associated services. JLT’s client proposition is built upon its deep specialist knowledge, client advocacy, tailored advice and service excellence.
JLT is quoted on the London Stock Exchange and owns offices in 39 territories with more than 10,000 employees. Supported by the JLT International Network, it offers risk management and employee benefit solutions in 135 countries.
This announcement may contain "forward looking statements" regarding the financial position, business strategy or plans for future operations of the Group. By their nature, forward looking statements involve risk and uncertainty, relating to facts that are beyond the company's ability to control, such as future market conditions. Any such statements in this announcement speak only as at the date of this announcement. The company does not assume any obligation to, and does not intend to, revise or update these forward looking statements except as required pursuant to applicable law.
Head of Communications & Marketing, JLT Re