Juno Re Ltd.

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Juno Re Ltd. – At a glance:

  • Issuer: 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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