Willis Capital Markets and Advisory Completes $75 million Bond for American Modern Insurance Group, Inc. (New York, NY – Insurance News and Markets) - In late 2013, Willis Capital Markets and Advisory, a division of Willis Group Holdings, announced the completion of a $75 million catastrophe bond transaction for American Modern Insurance Group. “American Modern” is a specialty short-tail lines carrier, a fully-owned indirect subsidiary of Munich Re. This deal gives American Modern $75 million of fully-collateralized protection against U.S. Named Storms for three years. There is an indemnity trigger per incident. “Investors were eager to support a new sponsor to the market,” said Tony Ursano, CEO of Willis Capital Markets and Advisory. “We are pleased to have been chosen to work on this transaction and deliver world-class execution for American Modern.” Source: Willis Group Holdings.
Posted on: Mon, 27 Jan 2014 16:19:41 +0000
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