Liberty Mutual in new notes transaction
Liberty Mutual has completed a new transaction utilising the Limestone Re capital markets platform that provides approximately $150 million of collateralised reinsurance capacity for its US property catastrophe programme, as well as its US. homeowners and global property reinsurance businesses.
The transaction is comprised of $58 million of Bermuda Stock Exchange listed 2019-1 Notes issued by Limestone Re Ltd., a Bermudian-domiciled segregated account company, with the remainder of the capacity provided via private placements.
James Slaughter, senior vice-president and chief underwriting officer of Liberty Mutual’s Global Risk Solutions strategic business unit., said: “The Limestone Re platform continues to be an integral component of Liberty Mutual’s strategy for accessing third-party capital.
“Liberty Mutual’s global reach makes us uniquely positioned to provide insurance-linked securities investors diversified pools of risk while bringing them as close as possible to the underlying insurance risks.”
According to Arno Gartzke, vice-president and director of ILS at Liberty Mutual, the transaction successfully replaced the expiring Limestone Re 2016-1 placement. He said: “Liberty Mutual remains committed to the ILS market and the continued support from our key partners, despite challenging market conditions, reaffirms the quality of risks which investors can access via Limestone Re.”
Charges dismissed against hotel deal four
One third of TMR staff to lose jobs
Island-branded raincoats much in demand
Airbnb rentals prove lucrative
Motorcyclist banned for carrying three
Gaming watchdog legal fees approach $600,000
Customs officers spread a bit of cheer
BHB awards $9m in service contracts
Take Our Poll
- "Your new year's resolutions for 2019"
- Quit smoking
- Quit drinking/drink in moderation
- Do not drink and drive
- Lose weight
- Stop procrastinating
- Drive with greater care
- Total Votes: 2607
- Poll Archive