Catastrophe bond market records are falling in 2024 and set to be beaten on most fronts, with overall issuance recorded in the Artemis Deal Directory reaching a new high of almost $17.7 billion for the year, including a record $17.24 billion of Rule 144A cat bonds, driving a new end-of-year outstanding market record and cat bond market growth of 10%.
The outstanding market, across 144A property catastrophe bonds, 144A cat bonds covering other lines of insurance and reinsurance business such as cyber, and also the private cat bonds that we track, is now projected to reach over $49.44 billion.
That represents more than 10% growth of catastrophe bond risk capital outstanding since the end of 2023, across those categories of deals.
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