3 December 2013Cayman analysis

CSX hits 200 cat bonds

The Cayman Islands Stock Exchange (CSX) today announced that its 200th cat bond has been listed following the admission of a $150 million listing by Residential Reinsurance 2013 Limited. The CSX listed its first catastrophe bond in 2007 and currently has 81 listings by 31 companies.

Commenting on the recent reduction in fees, CSX CEO Valia Theodoraki said: "the fees reduction and new listing process reflect our cumulative experience of listing ILS.  When cat bonds first came to the CSX in 2007 this was still seen as an exotic product but we have over the years developed significant expertise and strong relationships with the advisers to the point that we are now able to fast-track these listings.  The fees reduction is our way of handing back to our users some of the benefits of those efficiencies."