Market Re Ltd. (Series 2015-1) – Full details:
This Market Re 2015-1 cat bond provides the sponsoring cedant, which remains unnamed, with a one year source of fully-collateralized catastrophe reinsurance protection for its Florida book of business.
The Market Re 2015-1 cat bond provides reinsurance coverage specifically for Florida named storms, with its protection afforded on an indemnity trigger basis.
The Market Re platform, launched in 2014, is JLTCM’s own issuance vehicle that seeks to make accessing the capital markets cheaper for smaller deals and sponsors, with this 2015-1 transaction being the fourth issuance to use it to date.
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