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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Aston Martin Lagonda Global Holdings Plc | LSE:AML | London | Ordinary Share | GB00BN7CG237 | ORD GBP0.10 |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 133.20 | 134.30 | 135.30 | 0.00 | 01:00:00 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
Motor Vehicles & Car Bodies | 1.63B | -228.1M | -0.2769 | -4.85 | 1.11B |
TIDMAML
AMLIN PLC
PRESS RELEASE
For immediate release
22 December 2014
Amlin transfers US named storm, US earthquake and European windstorm risks to the capital markets
Amlin announces that it has acquired coverage for US named storm, US earthquake and European windstorm perils of up to USD 200m from a Bermudian special purpose insurer, Tramline Re II Limited, which in turn is placing a catastrophe bond for this amount into the capital markets.
This transaction provides the Amlin Group with fully collateralised protection over a four year period from 1 January 2015. The coverage attaches on an index loss basis equivalent to USD 500m. It replaces the Tramline Re protection placed in 2010 which expires with effect from 31 December 2014.
This cover is in addition to the protection that Amlin purchases through the traditional reinsurance marketplace and provides significant risk transfer for key exposures of the Group. The cover provided by the bond is based on market share factors applied to market industry losses as reported by PCS and PERILS for Europe.
As part of the transaction Amlin AG has entered into a reinsurance agreement with Tramline Re II Limited which will issue to investors USD 200m of four year principal-at-risk variable rate notes. The proceeds of these notes will comprise the collateral for Tramline Re II Limited's obligations to Amlin AG pursuant to the reinsurance agreement. Amlin's Lloyd's Syndicate 2001 will also benefit from the cover provided by the bond through a reinsurance arrangement with Amlin AG.
The transaction has been structured and arranged by Aon Benfield Securities with risk modelling developed by AIR Worldwide.
Charles Philipps, Chief Executive of Amlin plc, said: "The protection provided by this bond will complement the cover provided by our traditional reinsurance programme and Amlin's existing four year earthquake catastrophe bond which incepted on 1 July 2013."
ENDS
Enquiries:
Charles Philipps, Chief Executive, Amlin plc 020 7746 1000 Richard Hextall, Chief Finance & 020 7746 1000 Operations Officer, Amlin plc Julianne Jessup, Head of Investor Relations, Amlin plc 020 7746 1961 Ed Berry, FTI Consulting 020 3727 1046
Notes to Editors:
Amlin plc is a FTSE 250 listed independent global insurer with operations in the Reinsurance, Marine & Aviation and Property & Casualty markets. It specialises in providing insurance cover for a wide range of risks to commercial enterprises and reinsurance protection to other insurers around the world.
This information is provided by Business Wire
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