Annual global catastrophe bond and related insurance-linked securities (ILS) issuance is officially on-track to breach $14 billion for the first time ever in 2023, while traditional 144A property cat bond issuance will also reach a new record high, according to Artemis’ market data.
Catastrophe bond issuance has already been exceptionally strong this year, with completed 2023 issuance currently sitting at more than $11.4 billion, which is roughly $1 billion higher than total 2022 issuance, and already the fourth highest on record for a single calendar year.
