Jardine Lloyd Thompson Capital Markets closes $78.7m catastrophe bond
10 June 2016
Jardine Lloyd Thompson Capital Markets (JLTCM) Inc., an affiliate of a leading global reinsurance brokerage firm, JLT Re, is pleased to announce another private placement catastrophe bond, Market Re 2016-2, which closed at $78.7 million. The new bond provides one year indemnity-based collateralized catastrophe reinsurance coverage for the cedent’s Florida book of business. The transaction has one class and was placed with the private market alongside the cedent’s Florida Hurricane Catastrophe Fund coverage .
"We are glad to see repeat issuance through our Market Re platform. It gives our clients the ability to access capital markets, which is especially important as the capital markets, role has become a critical component of a comprehensive risk transfer," commented Rick Miller, Managing Director and Co-Head of Insurance-Linked Securities at Jardine Lloyd Thompson Capital Markets.
"We are thrilled to further grow and expand our Market Re platform," said Michael Popkin, Managing Director and Co-Head of Insurance-Linked Securities at Jardine Lloyd Thompson Capital Markets. "Our close working relationship with JLT Re's brokerage team has further increased our ability to provide our clients with meaningful risk transfer solutions."
CEO of JLT Re North America and JLTCM, Ed Hochberg, remarked that clients are enthusiastic about the success of Market Re, which is reflected not only through repeat issuance, but also through the incrementally larger deal size." Market Re 2016-2 is the largest Market Re deal to date.
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JLT Re Isabella Gaster | T: (+44) 20 7558 3387| M: (+44) 7920 586 032 | E: Isabella.Gaster@JLTRe.com
NOTES TO EDITORS:
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 Re. 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's trusted team of 700 colleagues worldwide combines market leading expertise and proprietary analytical tools with the freedom to challenge conventions.
Deep specialist knowledge and extensive experience of both the reinsurance market and clients' own industries and sectors enables JLT Re to ask smarter questions, innovate and deliver better results tailored to meet client needs.
JLT Re is part of the Jardine Lloyd Thompson Group plc.
About Jardine Lloyd Thompson
Jardine Lloyd Thompson is one of the world's leading providers of insurance, reinsurance 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 40 territories with more than 10,600 employees. Supported by the JLT International Network, it offers risk management and employee benefit solutions in 135 countries.
Head of Communications & Marketing, JLT Re