Lodestone Re Ltd. (Series 2010-1) – Full details:
Chartis’ first catastrophe bond issuance. The transaction was issued by Chartis for their National Union Fire Insurance subsidiary in the U.S.
Lodestone Re Ltd. is a Bermuda based SPV set up for the specific purpose of issuing $250m worth of insurance-linked securities to provide Chartis’ subsidiary with a source of reinsurance against both U.S. windstorms and earthquakes.
On completion the deal grew to $425m in size demonstrating the potential for appetite in the ILS investment market for U.S. wind risks right before the hurricane season begins.
This bond uses a trigger with state specific payment factors on a per-occurrence basis.
The deal has been structured into two tranches ($175m Class A and $250m Class B).
———————————————————————
Register to attend Artemis London 2022, our first ILS conference in London. Sept 6th, 2022.
Tickets are now on sale.
Secure your place at the event here!
—————————————
