Liberty Mutual Announces New Limestone Re Ltd. Transaction

Liberty Mutual completed a new transaction utilizing the Limestone Re capital markets platform that provides approximately $150 million of collateralized reinsurance capacity for its U.S. property catastrophe program, as well as its U.S. homeowners and global property reinsurance businesses.

The transaction is comprised of $58 million of Bermuda Stock Exchange listedn 2019-1 Notes issued by Limestone Re Ltd., a Bermuda domiciled segregated account company, with the remainder of the capacity provided via private placements.”The Limestone Re platform continues to be an integral component of Liberty Mutual’s strategy for accessing third-party capital,” notes James Slaughter, Senior Vice President and Chief Underwriting Officer of Liberty Mutual’s Global Risk Solutions strategic business unit. “LibertyMutual’s global reach makes us uniquely positioned to provide insurance-linked securities (ILS) investors diversified pools of risk while bringing them as close as possible to the underlying insurance risks.”