The catastrophe bond market saw robust activity last year as new sponsors and tightening retrocessional reinsurance capacity helped buoy the sector, and the trend is expected to continue.

Both the 2020 top line issuance of $11 billion of property cat bond limit placed and the fourth-quarter total of $3.7 billion were records, according to a report released last week by Aon Securities, a unit of Aon PLC.

New sponsors helped drive cat bond activity in 2020, said Des Potter, a London-based managing director at GC Securities, part of Guy Carpenter & Co. LLC….

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