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Munich Reinsurance Co. believes that catastrophe bond issuance is likely to be worth $3 billion in the second quarter of 2015, reported Artemis.bm.
Although the cat bond issuance in the first quarter of 2015 reached $1.7 billion, maturities exceeded issuance causing a shrinking of the outstanding cat bond market, said the reinsurer.
Munich Re expects "some sponsors with non-renewed first quarter maturities to catch up on their cat bond issuance during the second quarter."
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