Insurance and reinsurance group Amlin Plc is pleased with the additional reinsurance protection provided by its latest, and second, catastrophe bond transaction Tramline Re II Ltd. (Series 2013-1). The deal settled today after seeing the interest coupon offered drop to the low-end of the marketed range.
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Insurance and reinsurance group Amlin Plc’s second catastrophe bond transaction Tramline Re II Ltd. (Series 2013-1) has seen its price guidance narrow while the cat bond has been marketing. The transaction has only seen a very slight change in interest spread guidance, likely as it began marketing with a low coupon rate.
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Amlin plc, an insurance and reinsurance group involved in non-life underwriting in the Lloyd’s market, Bermuda and Europe, is to sponsor its second catastrophe bond transaction with the launch of Tramline Re II Ltd. (Series 2013-1). The deal sees Amlin looking for a new source of multi-year, fully-collateralized reinsurance for U.S. and Canadian earthquake risks.
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