Bermuda-based Dunamis Holdings Ltd has announced the launch of Kalista, a cost-effective and efficient catastrophe bond issuance platform.The Kalista product is a result of the combined efforts of Limestone Law, a Bermuda law firm, the Bermuda Stock Exchange and a partner reinsurance company.The product has the potential to lower barriers to entry and allow for faster deployment times, meaning sponsors can get deals to market more quickly, with reduced issuance costs.A strategic partnership with the RMS modelling agency has also been established to allow for the modelling of natural catastrophes.Furthermore the group said that this fast and efficient issuance platform also has the ability to structure more diverse underlying risks as seen recently with MyLotto and other private cat bond transactions.Spencer Conway, executive vice-president of Dunamis, said: “The introduction of this product is exciting for both Bermuda and the ILS (insurance linked securities) market. With the demand for new and varied innovative catastrophe bond structures increasing (lottery, oil and gas etc), Kalista provides new sponsors an opportunity to enter the ILS market simplifying both the set-up and structuring of these deals.”Kalista says it provides a one-stop cat bond issuance platform. Kalista can help sponsors by getting the best service providers involved where required for larger public cat bond or ILS deals, or by doing the majority of the issuance work in-house for smaller, private cat bond and ILS transactions.Simon Payne, a managing partner at Limestone Law, said: “Success or failure in business is determined by the quality of our business relationships and our ability to think outside of the box and Kalista is a great example of this thinking.”Greg Wojciechowski, president and CEO of the Bermuda Stock Exchange, said: “New innovations like this further enhances Bermuda’s reputation as the cat bond destination of choice for the insurance world.“Having the product listed also enhances its marketability and visibility.”