Swiss Re Insurance-Linked Fund Management

PCS - Emerging Risks, New Opportunities

Market Re Ltd. (Series 2016-4)

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Market Re Ltd. (Series 2016-4) – At a glance:

  • Issuer: Market Re Ltd. (Series 2016-4)
  • 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: Florida named storms
  • Size: $25m
  • Trigger type: Indemnity
  • Ratings: NR
  • Date of issue: Jun 2016

Market Re Ltd. (Series 2016-4) – Full details:

The Jardine Lloyd Thompson Capital Markets (JLTCM) team has successfully completed another Market Re privately placed catastrophe bond transaction, with this Series 2016-4 issue.

The capital market, insurance-linked securities (ILS) and investment banking affiliate of global reinsurance broker JLT Re, has announced the placement of the $25m of ILS notes in a Series 2016-4 tranche issued by its Market Re Ltd. special purpose insurance vehicle.

The transaction will provide an unnamed ceding insurer with a one-year source of fully-collateralized catastrophe reinsurance protection, on an indemnity trigger basis to cover its Florida book of business.

The single tranche of notes will act as a second-event cover within the ceding companies catastrophe reinsurance tower, sitting at a remote attachment level. The transaction is again from a repeat user of the Market Re platform, as the one-year transactions from 2015 now get renewed.

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