Willis Unit Places $300 Million Cat Bond for Catlin - Il Broker.it

Willis Unit Places $300 Million Cat Bond for Catlin

Da Insurance Journal di mercoledì 6 novembre
Willis Capital Markets & Advisory (WCMA), the capital markets and advisory business of Willis Group Holdings, the global risk advisor, insurance and reinsurance broker, announced that it has structured and placed a $300 million catastrophe bond transaction sponsored by Catlin Insurance Company Ltd. and its subsidiaries.
Willis said the transaction closed on October 30. It “provides Catlin with $300 million of fully collateralized protection against U.S. Named Storms, U.S. and Canada Earthquakes and Europe Windstorms for a three-year risk period. The structure features a PCS and PERILS based index trigger on an annual aggregate basis.”
Tony Ursano, CEO of Willis Capital Markets & Advisory said: “We are committed to continuing to build our insurance-linked securities (ILS) franchise and assist sponsors in accessing capital markets capacity. We are very proud to have been chosen to work on this transaction and we were delighted to have been able to deliver a world class execution for Catlin, a best in class sponsor and long standing Willis relationship. The level of investor demand for the deal is a testament to the markets’ continued appetite for a diverse range of catastrophe risk.”
Source: Willis Capital Markets & Advisory


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