Willis Capital Markets & Advisory (WCMA), has announced it has structured and placed a $300 million catastrophe bond transaction sponsored by Catlin Insurance Company Ltd and subsidiaries. Catlin Group Limited is a global reinsurer that underwrites a diversified portfolio of P&C speciality treaty reinsurance as a lead or quoting market, and is a Bermuda incorporated company.

The transaction, which closed on October 30, provides Catlin with $300 million of fully collateralised protection against US named storms, US and Canada earthquakes and Europe windstorms for a three-year risk period.

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.”