Kane issues four ILS deals on BSX


Kane has made four new issuances on its Bermuda-based private insurance-linked securities (ILS) platform Kane SAC.

The four ILS transactions, which total $125.8 million, have been listed on the Bermuda Stock Exchange and the maturity date is listed as the January 12, 2016.

The deals are: Exeter Segregated Account - $54.8 million; Hereford Segregated Account - $16.8 million; Muirfield Segregated Account - $26.7 million; and Troon Segregated Account - $27.5 million.

The transactions were all listed on January 14, 2015, and were listed in section V – insurance related securities.

This brings the total number of issuances to have taken place on the catastrophe bond platform since its launch in August 2013 to 11.

Robert Eastham, managing director, Kane (Bermuda), said: “The announcement of four new issuances on the Kane SAC platform serves to demonstrate that the program is meeting a very clear market demand for the ability to transact smaller capital market deals in an efficient and cost-effective manner. We expect to see strong growth in this area moving forward given the growing influence of the investment community in the insurance arena.”

Kane, Bermuda, ILS, Robert Eastham

Bermuda Re