Market Re Ltd. (Series 2016-3)
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Market Re Ltd. (Series 2016-3) - At a glance:
- Issuer / SPV: Market Re Ltd. (Series 2016-3)
- Cedent / Sponsor: Unknown
- Placement / structuring agent/s: Jardine Lloyd Thompson Capital Markets are structuring agent and bookrunner
- Risk modelling / calculation agents etc: ?
- Risks / Perils covered: North east U.S. named storms
- Size: $75m
- Trigger type: Indemnity
- Ratings: NR
- Date of issue: Jul 2016
Market Re Ltd. (Series 2016-3) - Full details
This latest transaction saw $75m of notes issued in a Series 2016-3 transaction using the JLTCM Market Re Ltd. private cat bond platform, as the unit for the JLT global insurance and reinsurance brokerage team demonstrated its ability to bring continued deal-flow to the ILS market at a quieter time of issuance.
The Market Re 2016-3 private cat bond issuance saw a U.S. ceding insurer securing three years of indemnity-based collateralized catastrophe reinsurance protection for its largely New Jersey book of business. The transaction was issued in a single $75m tranche of notes.
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