Jardine Lloyd Thompson Capital Markets Completes Market Re 2015-2, a $70.509 Million Catastrophe Bond
16 June 2015
Jardine Lloyd Thompson Capital Markets (JLTCM) Inc., which is part of JLT Re, the global provider of reinsurance broking and consultancy, announced it has arranged another Market Re private placement catastrophe bond, Market Re 2015-2, which closed at $70.509 million. The new bond provides one year indemnity-based collateralized catastrophe reinsurance coverage for the cedant’s Florida book of business and forms part of the growing private markets for the replacement portion of the Florida Hurricane Cat Fund (FHCF).
“This latest Market Re transaction demonstrates the ability to do larger transactions via the platform,” commented Rick Miller, Managing Director and Co-Head of Insurance-Linked Securities at Jardine Lloyd Thompson Capital Markets. “The cedant was able to diversify its reinsurance panel and achieve a very favorable outcome. Moreover, the cat bond allowed greater participation for the investor community into the cedant’s reinsurance program.”
“The Market Re platform made the overall process an easy one for the cedant due to the high degree of standardization,” said Michael Popkin, Managing Director and Co-Head of Insurance-Linked Securities at Jardine Lloyd Thompson Capital Markets. “Market Re shortened the overall timeline for the cedant, which allowed them greater flexibility around risk transfer. Given the close coordination in the program between the traditional and alternative markets, the Market Re platform helped to facilitate an overall successful execution for the client.”
CEO of JLT Re North America, Ed Hochberg, commented that “JLT Re’s integrated platform was critical in getting this done for our client. The close collaboration between capital markets and our traditional brokerage greatly enhanced our client’s options, with the cat bond forming part of a much larger solution.”
Notes to Editors
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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 13 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.