The Bermuda Stock Exchange (BSX) has approved of the listing of Lodestone Re Ltd’s $450 million of catastrophe bonds on behalf of American International Group’s property and casualty insurance arm Chartis.The BSX announced on Friday that it had approved the listing of the $125 million Series 2010-2 Class A-1 Principal-At-Risk Variable Rate Notes due on January 8, 2014 (Class A-1 Notes) and $325 million Series 2010-2 Class A-2 Principal-At-Risk Variable Rate Notes due on January 8, 2014 (Class A-2 Notes).The listing is pursuant to the programme under the Exchange’s restricted marketing provisions for qualified investors and was effective from December 21, 2010.Lodestone Re Ltd, the issuer, is a Special Purpose Insurer formed pursuant to the Bermuda Insurance Act 1978, as amended and was incorporated in Bermuda as an exempted company on April 8, 2010 with its registered office at Clarendon House, 2 Church Street, Hamilton.The purpose of the offering of the notes is to obtain capital to deposit into the collateral account to provide the issuer with funds to support its obligations under the reinsurance agreements with the ceding insurer, National Union Fire Insurance Company of Pittsburgh, Pennsylvania, a Chartis company, for exposure to loss events, under the Class A-1 reinsurance agreement and the Class A-2 reinsurance agreement.First Bermuda Securities Ltd sponsored the listing of the notes.James McKirdy, chief compliance officer of the BSX, said: “This is another Bermuda domiciled insurer that has taken advantage of the Exchange’s listing regulations for insurance related securities and we are extremely pleased to be working with Lodestone Re Ltd.”Michael Schroter, of First Bermuda Securities Ltd., said: “It has been a pleasure to assist in bringing another listing of this type to the Bermuda Stock Exchange. The co-operation and assistance of the BSX officers again made it a very smooth exercise.”