Increased cat bond issuance leads to flat demand for traditional reinsurance: RenRe
Posted On: Jul. 28, 2017 4:00 AM CSTKevin O'Donnell, president of Bermuda-based reinsurer RenaissanceRe Holdings Ltd., said that an unprecedented volume of catastrophe bond issuance in the first six months resulted in flat demand for traditional reinsurance capital at the mid-year renewals, Artemis.bm reports. "One factor behind this lack of increased demand for traditional reinsurance was the pricing witnessed within the catastrophe bond market," Mr. O'Donnell said. Cat bond issuance has exceeded $10 billion to date in this year.