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Cat bond issuance surges in Q2: Guy Carp
09 August 2010
Eight catastrophe bond transactions totalling $2bn in risk capital were completed in the second quarter of 2010, making it the second most active second quarter on record, according to a new report by Guy Carpenter.
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Eight catastrophe bond transactions totalling $2bn in risk capital were completed in the second quarter of 2010, making it the second most active second quarter on record, according to a new report by Guy Carpenter & Company and GC Securities, a division of MMC Securities.
The report, Cat Bond Market Update: Second Quarter 2010, found continued strong investor demand for new issuance, with conditions for sponsors remaining favourable.
Despite substantial new issuance, total risk capital outstanding in the catastrophe bond market
at the mid-point of 2010 declined by 0.8% relative to the end of the first quarter of 2010 and by 5.5% relative to year-end 2009.
Although the majority of second quarter issuance included exposure to US wind, leading into what is expected to be an active North Atlantic hurricane season,...
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