Bermuda remains global ILS hub with nearly 75% issuance
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The Bermuda Monetary Authority said that 74.5% or nearly $25 billion of global outstanding insurance-linked securities capacity was issued in Bermuda at the end of the first quarter, Artemis.bm reports. The regulator said that Bermuda-domiciled special purpose insurers accounted for more than 63% of ILS issuance with the average deal size totaling $284.4 million. The larger deals include a $500-million transaction covering earthquakes in Chile and a $700-million deal providing reinsurance against quake risks in Japan.
