Home / Insurance & Reinsurance

Legal News

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

Copyright © 2025 LexisNexis

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.

Popular documents

Priority between loss reliefs in loss making companies

Priority between loss reliefs in loss making companiesWhy does it matter?A company that is a member of a group and has incurred any of the types of losses available for surrender by way of group relief may, without any further rules, have more than one way in which to use the loss. There are a

What is the difference between an appeal and a review?

What is the difference between an appeal and a review?What is an appeal?An appeal in insolvency proceedings is no different to an appeal in normal litigation. An appeal will be allowed only if the appeal court is satisfied that the decision of the lower court was 'wrong' or 'unjust because of a

Late payment penalties—inheritance tax

Late payment penalties—inheritance taxWhile interest often accrues on overdue tax, the late payment of certain taxes may also attract a penalty. For information on the interest accruing on overdue tax, see Practice Notes: IHT—payment deadlines on death—Interest on IHT and Interest on late paid

Contributory negligence in personal injury claims

Contributory negligence in personal injury claimsContributory negligence is a partial defence which can lead to a discount in damages.Other defences may also be relevant. See Practice Notes: Did the claimant consent to the risk of injury? and Was the claimant involved in an illegal activity?If a