Amlin gets ready for earthquake, wind and hurricane

published 23 December 2011

Amlin, the insurance company, has increased its own coverage against hurricanes and earthquakes in the US and windstorm peril in Europe through a $150m bond.

The deal has seen Bermudian company Tramline Re take on the re-insurance contract then package it up into "principle-at-risk" three-year variable rate notes or bonds. The proceeds from these notes will make up the collateral for Tramline Re's obligations to Amlin.

Charles Philipps, Chief Executive of Amlin, said: "The protection afforded under this bond will complement our traditional reinsurance programme and protect the group from frequency of major catastrophe losses."