A triple tranche of catastrophe bond securities, worth a combined total of $300 million, have been admitted for listing on the Bermuda Stock Exchange.

The notes are sponsored by XL Insurance (Bermuda), and have been issued by Galileo Re Ltd. They will provide cover for entities within the XL Catlin group.

The Series 2016-1 notes are split into Class A, Class B and Class C, representing different risk levels. Each class of the principal at-risk variable rate notes is worth $100 million and has a due date of January 8, 2019.