The first catastrophe bond to be issued using the London Bridge 2 PCC insurance-linked securities (ILS) structure provides a valuable roadmap for Lloyd’s market participants and Lloyd’s CFO believes the market’s ILS platform offers a viable alternative to domiciles like Bermuda.
Speaking last week during the latest Lloyd’s market message, CFO Burkhard Keese explained that the insurance and reinsurance industry needs to focus on investor needs, delivering transparency and supporting efficient ways for them to access risk.
Keese also discussed the first 144A catastrophe bond issuance to use Lloyd’s ILS offering, the London Bridge 2 PCC protected cell and special purpose reinsurance structure.
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