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The number of sponsors has risen from 46 about a year ago to 66 over the last 12 months.
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The broker said it expects strong ILS capital inflows to continue.
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The bond is offering a spread range of 950-1,050 basis points.
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The US carrier abandoned the project due to high price expectations.
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The Bermuda regulator is consulting on a refresh of its rules that will be in force as of 1 January 2025.
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Growth was driven by strong returns and new investors entering the market.
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Building better exposure datasets could draw a broader range of investors.
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The insurer currently has $300mn of reinsurance limit from cyber cat bonds.
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Quick-moving cat risk trading may become more prevalent in the ILS market.
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The timing is “opportune” to start the strategy according to Bennelong.