JARDINE LLOYD THOMPSON CAPITAL MARKETS CLOSES OAK LEAF RE LTD. SERIES 2018-1, A $45.26 MILLION CATASTROPHE BOND
27 June 2018
Jardine Lloyd Thompson Capital Markets (JLTCM) Inc., an affiliate of the leading global reinsurance brokerage firm, JLT Re (North America) Inc. (JLT Re), is pleased to announce the completion of another private placement catastrophe bond: Oak Leaf Re 2018-1, which closed at $45.26 million. Oak Leaf Re Ltd. 2018-1 is an Ultimate Net Loss (UNL), indemnity-based collateralized catastrophe bond, providing reinsurance coverage for the cedant’s book of business, which covers named windstorms. The transaction consists of four classes, including a multi-section tranche covering severity/frequency and a tranche providing reinstatement premium protection (RPP). The bond is issued with a one-year maturity, and is extendable up to 24 months.
“The Oak Leaf Re series continues to be very successful and provides significant value to all parties,” commented Michael Popkin, Managing Director and Co-Head of Insurance-Linked Securities at Jardine Lloyd Thompson Capital Markets.
“The Oak Leaf Re cat bond, the eighth one, remains one of a handful of consistent issuers,” said Rick Miller, Managing Director and Co-Head of Insurance-Linked Securities at Jardine Lloyd Thompson Capital Markets.
Ed Hochberg, CEO of JLT Re (North America) Inc. and JLTCM, stated that “our clients and brokers see the capital markets as an integral part of reinsurance programs. JLT Re’s integrated platform allows for smooth execution for our clients.”
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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 is the world’s fourth largest reinsurance broker, with approximately 800 professionals across 38 locations in 18 countries, delivering world class risk analysis and risk transfer solutions.
Our deep specialist knowledge and extensive experience of both the reinsurance market and clients’ own industry sectors enables JLT Re to deliver innovative solutions tailored to meet client needs.
JLT Re is a trading name of various JLT reinsurance broking entities and divisions globally and any services provided to clients by JLT Re may be through one or more of JLT’s regulated businesses. JLT Re is part of the Jardine Lloyd Thompson Group plc. www.JLTRe.com
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 more than 40 territories with over 10,000 employees.
Supported by the JLT International Network, it offers risk management and employee benefit solutions in 135 countries. For further information about JLT, please visit our website www.jlt.com and follow us on LinkedIn at JLT Group and Twitter @JLTGroup.
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.