TULLETT PREBON SETTLES FIRST INSURANCE-LINKED NOTES TRADE

Interdealer broker Tullett Prebon, has settled the first insurance-linked notes (ILNs) transaction on its new catastrophe trading platform. Tullett Prebon launched the issuance and trading platform for so-called ILNs last year. The platform allows companies to issue ILNs to secure protection, which could be reinsurance or retrocession, while investors and ILS fund managers will be able to invest in catastrophe risks by providing the capacity to back the notes.