Newton Re Ltd. – Full details:
The transaction provides Catlin with “competitively priced and fully collateralized protection amounting to $87.5 million in the event of a severe US earthquake and $137.5 million in the event of a severe US hurricane. The coverage complements the catastrophe protection that Catlin purchases through the commercial reinsurance market as well as the three-year catastrophe swap agreement that Catlin Bermuda completed in November 2006”.
The Class A Notes of $87.5 million, are exposed to earthquake events, the Class B Notes of US$137.5 million, are exposed to US hurricane events.
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