Mangrove Risk lists zero coupon cat bonds

Marsh-backed Mangrove  Risk Solutions has issued two zero coupon bonds to support insurance linked securities valued at almost $40 million. 

The notes, which expire in May, 2025 were divided into two tranches – Class A notes valued at $26.325 million and Class B notes valued at $13.2 million. 

Mangrove Risk Solutions listed the notes on the Bermuda Stock Exchange this week. It listed  $20 million worth of one-year zero coupon notes on the BSX earlier this month. 

Mangrove Risk Solutions Bermuda Ltd. is the new name for the private cat bond platform Isosceles Insurance operated by Marsh and Guy Carpenter. 

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