Insurance-linked securities (ILS) market sources had been forecasting a busy pipeline of catastrophe bond deals for the remainder of 2022 and into early 2023, but at the same time capital raising was not happening as quickly as some would like to have seen, leading to nerves about timing the market to source sufficient capacity and secure strong execution.
Even before hurricane Ian we were told broker-dealers were nervous, as their pipelines were filling and there was less certainty capital would be available to match all the proposed deals.
