Tramline Re II Ltd.

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.

Non-life insurance and reinsurance group Amlin plc’s latest visit to the ILS market with the Tramline Re II Ltd. (Series 2014-1) catastrophe bond has resulted in pricing set at an extremely low level, below initial guidance and with a multiple below two.

The Tramline Re II Ltd. (Series 2014-1) catastrophe bond, sponsored by non-life insurance and reinsurance group Amlin plc, has upsized while marketing to $200m, while at the same time the price guidance has dropped, both likely a reflection of investor demand.

Non-life insurance and reinsurance group Amlin plc has a new catastrophe bond in the market, with the launch yesterday of Tramline Re II Ltd. (Series 2014-1), as it seeks to renew a soon to mature slice of capital markets cat bond protection.

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.

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.

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.