Special purpose insurer Cerulean Re SAC Ltd. issued and listed $25 million of notes on the
The series 2019-E1 principal-at-risk variable-rate notes are due May 31, 2020. Cerulean Re is a private catastrophe bond and ILS issuance vehicle operated by Guy Carpenter & Co. LLC and Marsh Captive Solutions.
Proceeds from the notes sale will be used as collateral to underpin linked reinsurance or retrocession contracts, according to the report.
