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Cat bonds & related ILS hit $12.5bn, property cat bonds surpass $11.5bn YTD

According to Artemis’ Deal Directory data, which tracks issuances of catastrophe bonds and related insurance-linked securities, overall issuance year-to-date has already reached $12.5 billion, while issuance of Rule 144A property cat bonds alone is now above $11.5 billion in 2023.

With another $400 million of notes from the North Carolina Farm Bureau’s Blue Ridge Re 2023-1 cat bond having settled this week, which have now been incorporated into Artemis’ range of interactive charts and visualisations on the catastrophe bond and related ILS market, we can say that 2023 is already officially the second most active year ever for the cat bond market.

Full-year 2021, when the record was set, saw $12.5 billion of property cat bonds issued and just under $14 billion of issuance across the deals we track, which are 144A property cat bonds, 144A catastrophe bonds that cover other lines of business (life, specialty etc), and private cat bonds with secondary transferability features.


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