The mania for insurance-linked securities (ILS) shows no sign of abating. Willis Capital Markets & Advisory reports that $4.5 billion of non-life catastrophe (cat) bonds were issued in the second quarter of this year across 17 deals – the highest volume in any three-month period to date. Total outstanding cat bond volumes now hover around $23.06 billion (£14 billion).
The typical format of ILS is evolving rapidly, with the balance of power between investors and cedents tipping towards the latter
The week on Risk.net, August 4–10Receive this by email