Jardine Lloyd Thompson Capital Markets closes $53.575m catastrophe bond

14 June 2016

Jardine Lloyd Thompson Capital Markets (JLTCM) Inc., an affiliate of a leading global reinsurance brokerage firm, JLT Re, has completed another private placement catastrophe bond, Oak Leaf Re 2016-1, which closed at $53.575 million.  The new bond provides one year indemnity-based collateralized catastrophe reinsurance coverage for the cedent’s Florida book of business.  The transaction consisted of four classes, including a multi-section tranche covering severity and frequency as well as a tranche for reinstatement premium protection (RPP).

“We are pleased to return to the market with our sixth Oak Leaf deal,” said Michael Popkin, Managing Director and Co-Head of Insurance-Linked Securities at Jardine Lloyd Thompson Capital Markets. “The cedent and the investors continue to work closely together, and we saw various classes price at the tight end of the range.”

“As a perennial issuer, Oak Leaf benefits from long term relationships.  For example, we saw strong support from incumbent investors during the process,” commented Rick Miller, Managing Director and Co-Head of Insurance-Linked Securities at Jardine Lloyd Thompson Capital Markets.  “Each year the process becomes increasingly efficient, allowing the participants to benefit from cost savings.”

CEO of JLT Re North America and JLTCM, Ed Hochberg, remarked that “Our clients are definitely seeing the capital markets as an integral part of their reinsurance placements.  Similarly, as further evidence of the value proposition of JLT’s integrated platform, we are witnessing the expansion of the relationships between cedent and ILS investors moving beyond just the cat bond into other layers.”

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JLT Re Isabella Gaster | T: (+44) 20 7558 3387| M: (+44) 7920 586 032 | E: Isabella.Gaster@JLTRe.com


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.