Juno Re Ltd.
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Juno Re Ltd. - At a glance:
- Issuer / SPV: Juno Re Ltd.
- Cedent / Sponsor: Gerling Global Ruck. AGSPV
- Placement / structuring agent/s: Goldman Sachs
- Risk modelling / calculation agents etc: AIR Worldwide
- Risks / Perils covered: U.S. hurricane risks
- Size: $80m
- Trigger type: Indemnity
- Ratings: S&P: 'BB'
- Date of issue: Jul 1999
Juno Re Ltd. - Full details
3 year floating-rate note arrangement triggered by Gerling incurring a loss of over $200m from a landfalling East/Gulf Coast U.S. hurricane. Bonds received a BB+ rating from Fitch.
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