Onerous market forces in 2008 brought on by turmoil in the global capital markets did not impact cat bond market activity, according to a briefing published by Guy Carpenter & Co. LLC, a global risk and reinsurance specialist and part of the Marsh & McLennan Cos., and GC Securities, a division of MMC Securities Corp.
As a whole, in terms of issuance volume, 2008 was the market’s third most active year since catastrophe bonds were introduced in 1997, accounting for 11% of all issuances, notes the report.
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