Neon launches UK’s first ILS vehicle
Lloyd’s carrier Neon has launched the first Insurance Linked Securities vehicle in the UK, NCM Re and raised third party capital to support the UK’s first ILS transaction.
Neon’s first ILS transaction, which launched on 1 January 2018, is a $72m (£53m) collateralised quota share reinsurance transaction that will underwrite a portion of Neon Syndicate 2468’s property
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