Lion I Re Catastrophe Bond Named Non-Life Transaction of the Year by Trading Risk

June 19, 2015

Cadwalader, Wickersham & Taft LLP, a leading counselor to global financial institutions and corporations, today announced that Lion I Re, a groundbreaking catastrophe bond sponsored by Assicurazioni Generali S.p.A., has been recognized by Trading Risk as Non-Life Transaction of the Year 2014. Cadwalader acted as transaction counsel to Generali in respect of Lion I Re.

Lion I Re was notable as the first catastrophe bond sponsored by an Italian insurer and the first catastrophe bond providing indemnity protection against Europe windstorm risks to be offered in a Rule 144A offering. 

“We are delighted to see Lion I Re receiving this award and the vision of Generali being recognized,” said Angus Duncan, partner at Cadwalader. “The transaction is a reflection of how European insurers increasingly see issuance of catastrophe bonds as a complement to traditional reinsurance cover.” 

The Cadwalader team included Adam Blakemore, Bruce Bloomingdale, Robert Cannon, Angus Duncan, Jason Schwartz, Alex Sykopetritis and Mal Wattman.

Cadwalader, through its New York and London offices, advises clients on a range of insurance-linked securities transactions including catastrophe and extreme mortality bonds, reinsurance sidecars, collateralised reinsurance and longevity bonds, as well as on bilateral risk transfer agreements, value in force monetisations and premium financing securitisations.

The Trading Risk Awards are hosted by Trading Risk, a leading publication covering the convergence of the (re)insurance industry with the capital markets. The event was held at the Grange St. Paul’s Hotel in London on 18 June, 2015.