Market Re Ltd. (Series 2018-1)

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Market Re Ltd. (Series 2018-1) - At a glance:

  • Issuer / SPV: Market Re Ltd. (Series 2018-1)
  • Cedent / Sponsor: Unknown
  • Placement / structuring agent/s: Jardine Lloyd Thompson Capital Markets are structuring agent and bookrunner
  • Risk modelling / calculation agents etc: N/A
  • Risks / Perils covered: Florida named storm
  • Size: $84m
  • Trigger type: Indemnity
  • Ratings: NR
  • Date of issue: Jun 2018

Market Re Ltd. (Series 2018-1) - Full details

This transaction, the first Market Re Ltd. private catastrophe bond of the year, will provide an unnamed sponsor with a single year of fully-collateralized reinsurance protection from the capital markets.

The reinsurance protection the deal provides will cover the cedant’s Florida book of business against losses from named storms and hurricanes and will sit alongside the cedant’s Florida hurricane catastrophe coverage (FHCF).

The protection is on an indemnity basis and the transaction featured just one class of Series 2018-1 notes, which were issued by Market Re Ltd. and placed with investors by the Jardine Lloyd Thompson Capital Markets (JLTCM) insurance-linked securities (ILS) structuring and issuance team.




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