Aon Capital Markets said it has placed a $225 million catastrophe bond for Newton Re Limited to cover earthquake and hurricane risks.

Aon Capital, the investment arm of Chicago-based insurance broker Aon Corp., explained it made a private placement of the $225 million catastrophe bond for Cayman Island-based Newton Re, a newly created special purpose vehicle. The deal also involved J.P. Morgan Securities in assisting in placing the coverage.

The placements will provide reinsurance coverage to Bermuda-based Catlin Insurance Company Ltd. with fully collateralized catastrophe protection of $87.5 million for U.S. earthquake risk and $137.5 million for U.S. hurricane risk.

Recommended For You

Want to continue reading?
Become a Free PropertyCasualty360 Digital Reader

Your access to unlimited PropertyCasualty360 content isn’t changing.
Once you are an ALM digital member, you’ll receive:

  • Breaking insurance news and analysis, on-site and via our newsletters and custom alerts
  • Weekly Insurance Speak podcast featuring exclusive interviews with industry leaders
  • Educational webcasts, white papers, and ebooks from industry thought leaders
  • Critical converage of the employee benefits and financial advisory markets on our other ALM sites, BenefitsPRO and ThinkAdvisor
NOT FOR REPRINT

© Touchpoint Markets, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more inforrmation visit Asset & Logo Licensing.