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NEW YORK, Nov. 4, 2013 (GLOBE NEWSWIRE) -- Willis Capital Markets & Advisory (WCMA), the capital markets and advisory business of Willis Group Holdings (NYSE:WSH), the global risk advisor, insurance and reinsurance broker, has announced that it has structured and placed a $300 million catastrophe bond transaction sponsored by Catlin Insurance Company Ltd. and subsidiaries (Catlin), a global reinsurer that underwrites a diversified portfolio of P&C specialty treaty reinsurance as a lead or quoting market.
The transaction, which closed on October 30, provides Catlin with $300 million of fully collateralized protection against U.S. Named Storms, U.S. and Canada Earthquakes and Europe Windstorms for a three-year risk period. The structure features a PCS and PERILS based index trigger on an annual aggregate basis.
Tony Ursano, CEO of Willis Capital Markets & Advisory said: "We are committed to continuing to build our insurance-linked securities (ILS) franchise and assist sponsors in accessing capital markets capacity. We are very proud to have been chosen to work on this transaction and we were delighted to have been able to deliver a world class execution for Catlin, a best in class sponsor and long standing Willis relationship. The level of investor demand for the deal is a testament to the markets' continued appetite for a diverse range of catastrophe risk."
Willis Group Holdings plc is a leading global risk advisor, insurance and reinsurance broker. With roots dating to 1828, Willis operates today on every continent with more than 17,000 employees in over 400 offices. Willis offers its clients superior expertise, teamwork, innovation and market-leading products and professional services in risk management and transfer. Our experts rank among the world's leading authorities on analytics, modelling and mitigation strategies at the intersection of global commerce and extreme events. Find more information at our website,
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About Willis Capital Markets & Advisory
Willis Capital Markets & Advisory is a trade name used by Willis Securities, Inc., a member of the Willis Group and a registered broker-dealer with the U.S. Securities and Exchange Commission and member of FINRA and SIPC.