JLT Re North America (NA) subsidiary, Jardine Lloyd Thompson Capital Markets (JLTCM), has announced another private placement catastrophe bond, Market 2017-2 (Weather), which closed at $14.50 million.
The bond provides single year parametric-based collateralized retrocession coverage for warm-weather winters across Europe.
Michael Popkin, Managing Director and Co-Head of Insurance-Linked Securities at JLTCM, said; “we are thrilled to see the cedent return to sponsor another weather-indexed bond via the Market Re platform.”
Ed Hochberg, Chief Executive Officer of JLT Re NA and JLTCM, said the firm is focused on continuing to develop products in the novel risk space as global ILS investors expand their underwriting capabilities.
“Market Re has proven to be an efficient vehicle for bespoke and complex risk transfer which cedents and investors alike have grown accustomed to,” added Rick Miller, Managing Director and Co-Head of Insurance-Linked Securities at JLTCM.
