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International

Catlin launches $175 million Galileo Re cat bond

October 16, 2013 Reprints

Catlin Group Ltd. returned to the catastrophe bond market with Galileo Re Ltd. (Series 2013-1), a $175 million multi-peril cat bond deal, reports Artemis.bm.

Willis Capital Markets & Advisory was the sole structuring agent and bookrunner for the deal.

Artemis reports that the deal size could grow depending on investor demand. The bond will provide protection for three years, starting in January 2014, and will cover losses from most of Catlin’s insurance and reinsurance subsidiaries as well as its Lloyd’s syndicates.

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Catlin launches $175 million Galileo Re cat bond

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