In advance of the end of the quarter, Artemis can now report that issuance of property catastrophe bonds in the first-half of 2023 will close out June at an all-time high for the period of almost $9.7 billion, which beats the full-year total from 2022 and sets a new record for any half-year of cat bond issuance.
2023 always looked as if conditions were ripe for the catastrophe bond market to set new records, with issuance accelerating into the second-quarter and hitting a record-setting pace, as we reported back in May.
The use of catastrophe bonds to transfer property catastrophe risks in reinsurance and retrocession form has dominated recent months, driving issuance of pure 144a property cat bonds to a new all-time high, Artemis can now report.
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