Pic© Rob and Stephanie Levy
Category: Insurance-linked securities ABS
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The average size of catastrophe bonds climbed significantly - by 31% - to US$292m in 1Q17, according to PCS figures. The firm notes that the issuance of the Galilei Re, Aozora Re and Sanders Re transactions had "disproportionate effects" on volumes (see SCI's primary issuance database).
"Half the transactions [issued in Q1] were small (under US$200m) and it took two large transactions of around US$500m to lift aggregate limit to the year's record-setting issuance of US$2.3bn,"
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