Despite the tightening of catastrophe bond spreads seen through the second-half of 2024 the asset class remains elevated compared to US high-yield bond offerings, with investment manager Twelve Capital estimating cat bond spreads are around 280bps higher at this time.
The investment manager said 2024 was “an exceptional year for the asset classes in which Twelve Capital specialises.”
Commenting on the range of asset classes Twelve Capital allocates to on behalf of its investor base, which include catastrophe bonds, private insurance-linked securities (ILS), insurance and reinsurance equities and debt, the company said strong performance was seen across the board despite a challenging macroeconomic backdrop.
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