A trend-setter in insurance-linked securities has completed
another first in Guernsey.
Cedric Edmonds, Director of Solidum Re (Guernsey) ICC, first
started doing business with the island in 2009. He has gone on to
become a pioneer for the use of blockchain in ILS, and Solidum Re
(Guernsey) ICC has just become a member of the
Guernsey-headquartered International Stock Exchange.
In 2011 Solidum Re Eiger IC was admitted to the Exchange's
Official List in what was the first private cat bond transaction to
be listed on any exchange worldwide.
Last year Mr Edmonds announced that Dom Re IC, a cell of Solidum
Re, had issued what was believed to be the first notes ever to have
been digitised on a private blockchain. Referred to as
'ILSBlockchain', the mechanism replaced the role of a
traditional settlement system for the note issue.
