Willis and Towers Watson have merged. Visit willistowerswatson.com

    Download PDF (145KB)

    Willis Capital Markets & Advisory Completes $300 million ‘Galileo Re’ Cat Bond Sponsored By Catlin Insurance Company Ltd. and Subsidiaries

    New York, November 4, 2013 – Willis Capital Markets & Advisory (WCMA), the capital markets and advisory business of Willis Group Holdings (NYSE: WSH), the global risk advisor, insurance and reinsurance broker, has announced that it has structured and placed a $300 million catastrophe bond transaction sponsored by Catlin Insurance Company Ltd. and subsidiaries (Catlin), a global reinsurer that underwrites a diversified portfolio of P&C specialty treaty reinsurance as a lead or quoting market.

    The transaction, which closed on October 30, provides Catlin with $300 million of fully collateralized protection against U.S. Named Storms, U.S. and Canada Earthquakes and Europe Windstorms for a three-year risk period. The structure features a PCS and PERILS based index trigger on an annual aggregate basis.

    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.”

    About Willis

    Willis Group Holdings plc is a leading global risk advisor, insurance and reinsurance broker. With roots dating to 1828, Willis operates today on every continent with more than 17,000 employees in over 400 offices. Willis offers its clients superior expertise, teamwork, innovation and market-leading products and professional services in risk management and transfer. Our experts rank among the world’s leading authorities on analytics, modelling and mitigation strategies at the intersection of global commerce and extreme events. Find more information at our website, www.willis.com, our leadership journal, Resilience, or our up-to-the-minute blog on breaking news, WillisWire. Across geographies, industries and specialisms, Willis provides its local and multinational clients with resilience for a risky world.

    About Willis Capital Markets & Advisory

    Willis Capital Markets & Advisory is a trade name used by Willis Securities, Inc., a member of the Willis Group and a registered broker-dealer with the U.S. Securities and Exchange Commission and member of FINRA and SIPC.

    This communication should not be regarded as an offer to sell or as a solicitation of an offer to buy, or, except with respect to an accompanying confirmation of transaction sheet, as a confirmation of terms of the purchase or sale of, any security. The information contained herein is as of this date only, is subject to change and does not contain all information necessary to adequately evaluate an investment in any financial instrument. Information contained in this communication may not reflect information known to other employees in any other business areas of Willis Group and its affiliates.

    All the securities referred to herein having been sold, this announcement is a matter of record only. This communication does not constitute an offer to sell or the solicitation of an offer to buy the securities mentioned herein in any jurisdiction in which such an offer or solicitation is illegal. The securities mentioned herein have not been, and will not be, registered under the United States Securities Act of 1933, as amended (the “Securities Act”), and may not be offered or sold in the United States except pursuant to an exemption from the registration requirements of the Securities Act.

    ###

    • Copyright © 2017 Willis Towers Watson