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Cat bond & associated ILS market hits file measurement at over $47bn, up 5% up to now this yr

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In line with Artemis’ Deal Listing information, which tracks issuances of disaster bonds and associated insurance-linked securities, the excellent market has hit a file excessive of greater than $47 billion in threat capital excellent, having already risen by 5% because the finish of final yr.

As of as we speak, issuance of latest 144A disaster bonds and the few personal cat bonds Artemis tracks has reached over $7.7 billion in 2024 up to now.

The disaster bond market is operating at a record-setting tempo once more in 2024 and with plenty of massive cat bond offers anticipated and the pipeline nonetheless trying sturdy, we’re now anticipating a brand new half-year file for issuance might be set.

With the settlement this week of plenty of new disaster bonds, issuance tracked by Artemis has reached $7.7 billion and our measure of risk-capital excellent for the market is now at nearly $47.2 billion.

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It’s the primary time the excellent disaster bond and associated insurance-linked securities (ILS) market has been above $47 billion in measurement, a brand new milestone for this market.

Catastrophe bond market record size outstanding 2024

The excellent cat bond and associated ILS market was slightly below $45 billion in measurement on the finish of 2023, so has grown by nearly 5% since then, which given a major quantity of maturities earlier this yr is testomony to traders and cat bond fund managers reinvesting money earned and elevating new capital to help the bumper pipeline of offers.

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Impressively, the excellent cat bond and associated ILS market is now over 24% bigger than it was on the finish of 2022, reflecting the sturdy issuance and progress in capital earned by way of returns from threat premium and collateral over that interval.

Most spectacular information level although, is the truth that the market had shrunk by way of the first-quarter of this yr (as our report detailed), so simply because the finish of March it has now expanded by nearly 6%.

Trying forward, if all new cat bonds we have now listed in our Deal Listing settled as they’re listed as we speak the first-half would already be the fourth largest on file.

However with plenty of different cat bonds, some notably massive anticipated, we really feel it’s protected to name for a brand new file for first-half issuance in 2024, except one thing had been to derail the market’s trajectory.

There are slightly below $1.7 billion of cat bond maturities to come back earlier than the top of the first-half of this yr, however already roughly $1.7 billion left in our Deal Listing to finish.

So, with extra offers to come back and an opportunity of a few of these already listed upsizing, it appears extremely possible the excellent market will develop even additional by the top of the first-half of 2024.

Discover all of Artemis’ disaster bond market charts and information right here, or by way of the Artemis Dashboard.

All of our charts are up to date as new disaster bond points full, and as older issuances mature, based mostly on the info in Artemis’ intensive disaster bond Deal Listing.

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