Friday, November 24, 2017

GC Securities and Marsh launch ILS platform

GC Securities and Marsh Captive Solutions have launched a private syndicated collateralised reinsurance platform, Bermuda-registered segregated account company and licensed special purpose insurer.

The joint venture, called Cerulean, is intended to provide an efficient and cost-effective placement process for collateralised reinsurance and private catastrophe bond deals.

GC Securities will act as arranger and Marsh Captive Solutions as insurance manager.

By standardising many aspects of the placement process and documentation, the platform will generate significant operational and expense efficiencies while still providing cedents with bespoke, fully-collateralised products.

“Insurers, reinsurers, corporations and governments accessing long-term capital markets-based protection can now receive unparalleled support and expertise that brings the right capital to their risks,” said Cory Anger, global head of ILS origination and structuring for GC Securities. “This collaboration offers an expansion of collateralised reinsurance opportunities, matching a more diverse range of capital sources seeking non-correlating investments to the unique risk profile of clients, thereby creating more efficient solutions.”

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