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Alison Dyer, Estera

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Estera sponsors EUR120m EU domiciled listing on BSX

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Estera Bermuda’s Insurance-Linked Securities (ILS) team has sponsored the listing of the Hexagon II Reinsurance DAC notes.

The Hexagon II Reinsurance DAC listing is the third EU domiciled ILS deal on the Bermuda Stock Exchange (BSX) in 2019. It follows the Estera sponsored listing of EUR45 million Atmos Re DAC notes and GBP75 million Baltic PCC notes from Ireland and the UK respectively. To date, there have been six ILS notes originating from foreign issuers listed on the BSX in 2019. Estera has listed all the deals originating in EU and UK.
 
The Cover Group sponsored the Hexagon II Reinsurance DAC notes. The notes cover weather-related perils in France, Monaco and Andorra and are part of a growing trend where non-Bermuda issuers of Insurance-Linked Securities (ILS) are choosing to the list on the BSX.
 
Estera Account Manager, Irish Aleria, led the listing with assistance from Associate Director, Sherman Taylor. [1] 
 
Alison Dyer-Fagundo, Estera Managing Director, says: We are thrilled to see the BSX continue to attract deals domiciled both in Bermuda and internationally, demonstrating the reputation of Bermuda as a world-class jurisdiction for ILS. Estera continues to be a market leader and has recently expanded its ILS team as well as services, with the recent addition of legal services to offer a comprehensive client-focused service.”

 
Best to delete when the company is just blowing its own trumpet!

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