With 2023 on-track to set a new record high for catastrophe bond issuance of over $15 billion, global reinsurer Swiss Re has explained how investor appetite is driving this trend and that the capital flows are helping to stabilise the reinsurance market.
However, Swiss Re also believes that the rotation in insurance-linked securities (ILS) will continue, with the catastrophe bond market set to benefit as the collateralised reinsurance side of the market continues to shrink.
As we recently reported, annual global catastrophe bond and related insurance-linked securities (ILS) issuance was officially on-track to breach $14 billion for the first time ever in 2023, while traditional 144A property cat bond issuance was also on-track to reach a new record high.
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