Amlin likes complementary role latest Tramline Re II cat bond plays

Share

Non-life insurance and reinsurance group Amlin plc appreciates the complementary risk transfer role that the completed today Tramline Re II Ltd. (Series 2014-1) catastrophe bond plays alongside its traditional reinsurance cover.

The Tramline Re II catastrophe bond settled today and the addition of this $200m of issuance takes 2014 total issuance of catastrophe bonds and ILS recorded in the Artemis Deal Directory to a record $8.718 billion. At the same time the outstanding catastrophe bond and ILS market hits another record high at $24.953 billion.

The completed cat bond transaction sees Amlin receive up to $200m of coverage for U.S. named storm, U.S. earthquake and European windstorm risks from Bermudian special purpose insurer, Tramline Re II Limited. Tramline Re II in turn is placing a catastrophe bond for this amount into the capital markets with the notes sold to institutional investors.

Amlin Group said that it will benefit from fully collateralised protection over a four year period from 1 January 2015, as a result of the cat bonds issuance. The coverage attaches at an industry index loss basis equivalent to $500m, according to Amlin. The cat bond replaces the Tramline Re Ltd. (Series 2011-1) transaction placed in 2011 which matures at the end of December 2014.

Charles Philipps, Chief Executive of Amlin plc, commented on the deals completion; “The protection provided by this bond will complement the cover provided by our traditional reinsurance programme and Amlin’s existing four year earthquake catastrophe bond which incepted on 1 July 2013.”

You can read all about Amlin’s Tramline Re II Ltd. (Series 2014-1) catastrophe bond and every other cat bond or ILS deal in the Artemis Deal Directory.

———————————————————————
Artemis Live - ILS and reinsurance video interviews and podcastView all of our Artemis Live video interviews and subscribe to our podcast.

All of our Artemis Live insurance-linked securities (ILS), catastrophe bonds and reinsurance video content and video interviews can be accessed online.

Our Artemis Live podcast can be subscribed to using the typical podcast services providers, including Apple, Google, Spotify and more.

Print Friendly, PDF & Email

Artemis Newsletters and Email Alerts

Receive a regular weekly email newsletter update containing all the top news stories, deals and event information

  • This field is for validation purposes and should be left unchanged.

Receive alert notifications by email for every article from Artemis as it gets published.

Read previous post:
Wilmington Trust adds Robert Bilodeau to ILS & reinsurance trust team

Wilmington Trust has added another experienced insurance-linked securities (ILS) and reinsurance collateral expert to its growing team, as it puts...

Close