ILS, cat bond issuance top $5 billion in second quarter

A new report said that there were $5.2 billion worth of new insurance-linked securities and catastrophe bond issuances in the second quarter of the year, as demand for reinsurance and retrocessional protection continued to grow, Artemis reported. While existing reinsurers and insurers trim down their appetite for natural catastrophe risks, new market entrant sponsors helped in driving the ILS and cat bond issuance momentum, according to the report by Artemis.