Given the ominous cloud of negative press hanging above the P&C industry lately, a new briefing from Guy Carpenter & Co. LLC may be a ray of sunlight indicating the haze is about to break. The catastrophe bond market is weathering the effects of the global financial downturn while maintaining a strong issuance pipeline for the remainder of 2009, says the global risk and reinsurance specialist, which partnered on the report with GC Securities, a division of MMC Securities Corp.
The briefing, entitled Cat Bond Update: First Quarter 2009, indicates that cat bonds remain important tools for risk and capital managers, with three bonds coming to market in the first quarter of 2009, totaling $575 million in fresh capital.
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