Legal News

Lloyd's issues first 144A catastrophe bond on London Bridge

Published on: 09 January 2024
Published by LNB News

LNB News 09/01/2024

Document Information

Issue Date: 09 January 2024

Published Date: 09 January 2024

Jurisdiction(s): England, Northern Ireland, Scotland and Wales

Article summary

Lloyd's of London has issued the first 144A catastrophe bond on its risk transformation platform London Bridge 2 PCC Limited. The indemnity reinsurance coverage provides multi-year protection for named storm and earthquake events affecting the US, Canada and parts of the Caribbean. The transaction, sponsored by Beazley, brings the aggregate issuance of securities to institutional investors by the London Bridge vehicles to approximately US$750m, across 13 cells.

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