Oak Leaf Re Ltd. (Series 2017-1) - Full details
This is a seventh annual Oak Leaf Re cat bond that will yield unite Southern Oak Insurance with a one-year source of fully-collateralized, collateral marketplace corroborated reinsurance insurance for a Florida book of business on an indemnification basis. It is insincere a underlying hazard is Florida named charge risk.
This seventh transaction saw JLTCM assisting Southern Oak to $53.995 million of fully-collateralized reinsurance protection, by an Oak Leaf Re 2017-1 distribution that featured 4 tranches of ILS records that were sole to investors.
The Oak Leaf Re 2017-1 secretly placed cat bond will yield unite Southern Oak with a one year indemnity-based source of collateralized protection, providing it with reinsurance coverage for a book of business. We’re presumption this is a Florida named charge cat bond, as a other Oak Leaf Re’s have been.
The transaction has been structured in 4 classes of notes, with one a multi-section tranche covering both astringency and frequency, while another tranche offers a unite a source of reinstatement reward insurance (RPP).
With 7 annual cat bond issuances now underneath a belt, insurer Southern Oak has sourced $269.85 million of collateralized reinsurance insurance from a collateral markets by these deals.
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