Secondary trading

Integrity Re 2024-D and Lightning Re 2023-1A are two bonds that were marked down, although no trading has occurred.

The firm predicts 2024 will be a record year for primary issuance.

Secondary market activity and hedging would be likely if a Beryl-sized storm tracked toward the US.

Spreads could continue widening throughout the rest of the year.

ILS returns in 2023 sparked a flurry of enquiries from hedge funds.

A diverse investor base is among market characteristics seen as important for growth.

Former retro broker Erik Manning is leading the initiative having joined BMS Re in January.

Lane Financial said that the cat bond market is suggesting that the early markdowns were an overreaction.

The framework introduced by the BMA last July allows companies to test new technologies and products on customers in a controlled environment.

Cat bond prices in the secondary market have begun recovering following a pre-Christmas sell-off, as investors sought to release capital ahead of the renewal, brokers said.

The insurer is expected to make significant recoveries from its aggregate cat bonds for the second year running.

The Eurekahedge ILS Advisers Index was up by 0.45 percent in August but this figure was below the 13-year average of 0.68 percent.