Aon Capital Markets Places $225 Million U.S. Earthquake and U.S. Hurricane Catastrophe Bonds
19 Dicembre 2007 - 8:00PM
PR Newswire (US)
CHICAGO, Dec. 19 /PRNewswire-FirstCall/ -- Aon Corporation
(NYSE:AOC) today announced that its investment banking group, Aon
Capital Markets, successfully completed the private placement of
$225 million of principal at-risk variable rate notes for Newton Re
Limited in two separate classes of notes. The placements provide
Catlin Insurance Company Ltd. with fully collateralized catastrophe
protection of $87.5 million for U.S. earthquake risk and $137.5
million for U.S. hurricane risk. (Logo:
http://www.newscom.com/cgi-bin/prnh/20041215/CGW049LOGO) The $87.5
million of Class A Notes are exposed to U.S. earthquake events and
the $137.5 million of Class B Notes are exposed to U.S. hurricane
events. The notes were issued by Newton Re Limited, a Cayman
Islands exempted company licensed as a Class B insurer in the
Cayman Islands. Risk Management Solutions, Inc. provided the risk
modeling and analysis for this transaction. For each class of
notes, a risk transfer contract provides formula-driven recovery,
which takes into consideration specific payout factors multiplied
by the industry loss amount applicable to a covered event as
published by the Property Claim Services. Aon Capital Markets and
J.P. Morgan Securities Inc were joint lead placement agents. "The
capital markets continue to provide meaningful capacity for our
clients," said Paul Schultz, president of Aon Capital Markets.
"Once again, Aon Re Global's dynamic execution platform offers our
clients alternative risk transfer solutions by providing access to
traditional markets through Aon's broker network and capital
markets through Aon Capital Markets." These securities have not
been registered under the Securities Act of 1933 and may not be
offered or sold in the United States or to U.S. persons except in
accordance with the resale restrictions applicable thereto. These
securities having been previously sold, this announcement appears
as a matter of record only. About Aon Aon Capital Markets is Aon Re
Global's boutique investment bank, providing clients with strategic
advice and access to all forms of capital. Aon Capital Markets was
one of the primary innovators of insurance-linked securities and
recently completed the largest insurance-linked securitization in
history. Since bringing the first ILS deal to the market in 1994,
Aon Capital Markets has brought more than 50 deals to market. Aon
Re Global, the world's leading and most preferred reinsurance
intermediary, provides clients with integrated capital solutions
and services through a world-class network of experts in more than
35 countries. Clients are better able to differentiate and meet
their business objectives with Aon Re Global's best-in-class treaty
and facultative reinsurance placement services, capital markets
expertise, and relevant analytics and technical expertise,
including catastrophe management, actuarial, and rating agency
counsel. Aon Re Global was named best reinsurance broker in 2007
and 2006 Aon Corporation (NYSE:AOC) is the leading global provider
of risk management services, insurance and reinsurance brokerage,
human capital and management consulting, and specialty insurance
underwriting. Through its 43,000 professionals worldwide, Aon
readily delivers distinctive client value via innovative and
effective risk management and workforce productivity solutions. Our
industry-leading global resources, technical expertise and industry
knowledge are delivered locally through more than 500 offices in
more than 120 countries. Aon was ranked by A.M. Best as the number
one global insurance brokerage in 2007 based on brokerage revenues,
and voted best insurance intermediary, best reinsurance
intermediary, and best employee benefits consulting firm in 2007 by
the readers of Business Insurance. For more information on Aon, log
onto http://www.aon.com/. Media Contact Rahsaan Johnson
312.381.2684
http://www.newscom.com/cgi-bin/prnh/20041215/CGW049LOGO
http://photoarchive.ap.org/ DATASOURCE: Aon Corporation CONTACT:
Rahsaan Johnson of Aon Corporation, +1-312-381-2684, Web site:
http://www.aon.com/
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