Jardine Lloyd Thompson Capital Markets Closes $180 Million Catastrophe Bond: Skyline RE 2017-1

13 February 2017

Jardine Lloyd Thompson Capital Markets, Inc. (JLTCM) is pleased to announce Skyline Re 2017-1, a $180 million private placement catastrophe bond which closed on February 7th, 2017. It will provide three-year, indemnity-based collateralized catastrophe reinsurance coverage, consisting of two classes, for The Cincinnati Insurance Companies (Cincinnati Insurance). Class 1 covers earthquake loss only, and Class 2 covers both earthquake and severe convective storm loss, which are on a per-occurrence and aggregate basis, respectively. 

“Based upon our long-standing partnership with Cincinnati Insurance, we are pleased to collaborate for a third innovative private placement cat bond. We are excited to not only have strong support from existing investors, but also strong support from new investors as well.” said Rick Miller, Managing Director and Co-Head of Insurance-Linked Securities at Jardine Lloyd Thompson Capital Markets. 

Michael Popkin, Managing Director and Co-Head of Insurance-Linked Securities at Jardine Lloyd Thompson Capital Markets, commented the following: “Since we started structuring private placement cat bonds with Cincinnati Insurance, the level of acceptance for private placement cat bonds has grown significantly. One of the major advantages of private placement cat bonds is that they allow for more customized risk transfer, which is evident again with Skyline 2017.” 

“ILS investors are quite comfortable with JLTCM’s private placement platform, as indicated by its growth in issuance size as well as coverage. Indeed, the 2017 program has grown substantially to $180M from $61.2M in 2013. Additionally, coverage has expanded from a constellation of counties to nearly nationwide. It is clear that the potential exists to do much larger private placement cat bonds,” concludes Edward Hochberg, CEO of JLT Re North American and CEO of JLT Capital Markets.

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Isabella Gaster
Tel: (+44) 20 7558 3387/ (+44) 7920 586 032

Email: 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.

For further information about JLT, please visit our website www.jlt.com.

Nothing in this document should be construed as legal, tax or investment advice nor interpreted as recommending any investment in any particular product, instrument or security and should not be relied on as the sole source of information upon which to base an investment decision. Unless otherwise agreed in writing, we are not acting as your financial adviser or fiduciary.

Before you enter into any transaction, you should ensure that you fully understand the potential risks and rewards of that transaction and you should consult with such advisers as you deem necessary to assist you in making these determinations. Neither of us should rely on any representation or undertaking inconsistent with the above paragraphs.

Jardine Lloyd Thompson Capital Markets Inc. is a member of FINRA and SIPC, and is regulated by FINRA. JLT Advisory Ltd. is a company authorized and regulated in the conduct of its investment business in the U.K. by the FCA and is entered in the FCA’s register. The FCA's website contains a wide range of information of specific relevance to U.K. customers and provides access to the FCA register. The information on such website is not part of this presentation and no hyperlink is intended by this reference

contact Isabella Gaster
Head of Communications & Marketing, JLT Re