Guy Carpenter & Company Inc., a subsidiary of Marsh & McLennan Companies, and MMC Securities Ltd., an affiliate of Guy Carpenter, completed a multiterritory, multiperil catastrophe bond transaction.
The bond will offer coverage of up to $200.25 million in the event of a series of severe natural catastrophes on an aggregate basis.
The bond will provide the Catlin Group, a Bermuda-based underwriter of insurance and reinsurance, with competitively priced and fully collateralized protection against severe natural catastrophes, complementing the protection that it already purchases through the traditional reinsurance marketplace, the broker said.
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