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Convergence Quarterly: ILS outlook for 2010
12 February 2010
Fresh off the back of the busiest ever fourth quarter for cat bonds, insurance-linked securities activity is predicted to be high in 2010. Reactions' Convergence Quarterly section includes all the cat bond data from 2009.
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cat bonds
catastrophe bonds
Convergence between the insurance industry and capital markets is back on track after the number of insurance-linked securities (ILS) issued in 2009 grew at a healthy rate. Building on the momentum of last year, the ILS market looks set to be prolific for 2010.
Click here to see details of all the catastrophe bond deals in 2009
Click here to see all catastrophe bond deals from 1994-2009
A total of 19 new ILS transactions were brought to market in 2009 – 18 catastrophe bonds and one mortality bond – for a total issuance volume of around $3.5bn. This was a return to form after the market completely froze towards the end of 2008. “No one anticipated with the financial crisis going on that the market would achieve that,” says Judy Klugman, managing director of Swiss Re’s ILS team, based in New York. “I think it is a real testament to the...
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