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Cat bond momentum has carried over into 2022

Market momentum for catastrophe bonds continued through the first quarter after last year’s record new issuance.

More than $3 billion of coverage has been issued in the 144A cat bond sectors since the beginning of the year, said Philipp Kusche, New York-based global head of ILS and capital solutions for TigerRisk Partners Inc.

That follows the record $12.8 billion in new issuance in 2021. 144A catastrophe bonds, which account for most cat bond transactions, are governed under the Rule 144A of the Securities Act of 1933. According to Artemis, they “are typically the more liquid type of cat bond deals, as opposed to cat bond lite transactions and privately placed cat bond deals.”


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