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Private catastrophe bonds surpass $1bn for first time in 2021

For the first time on-record, annual issuance of privately placed catastrophe bond transactions has surpassed $1 billion in 2021, as these more streamlined insurance-linked securities (ILS) arrangements continued to play an important role for some protection buyers, ILS funds and investors.

Private catastrophe bond activity had declined in 2020, as the annual issuance volume of privately issued and placed ILS deals, also known as cat bond lites, that we tracked here at Artemis fell to just over $350 million.

The prior three years were all relatively strong at over $900 million each and the previous record, before 2021, was set in 2017 when 26 private cat bond transactions that brought $997 million of risk capital to market were tracked by us at Artemis.


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