Best’s Briefing: Hurricane Irma to Test Catastrophe Bond Market
The current catastrophe bond market exists primarily to provide reinsurance for catastrophic events such as Hurricane Irma. The recent growth of this segment has contributed to an abundance of reinsurance capacity over the past five years, but an active hurricane season could affect investors’ future appetite for this segment.
According to a new Best’s Briefing, there are 29 tranches of outstanding catastrophe bonds that are sponsored by
“One potential impact that might emerge is a change in behavior of traditional reinsurers and the use of alternative capital instruments, including catastrophe bonds, collateralized reinsurance programs, sidecar vehicles and insurance-linked securities (ILS) funds,” said
In the event that extensive insured losses result from Hurricane Irma,
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