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Bermuda Leads On Catastrophe Bond Issuances

by Mike Godfrey, Lowtax.net, Washington
12 January, 2017

Bermuda remains the leading jurisdiction for the issuance of catastrophe bonds, according to statistics released by the Bermuda Monetary Authority.

The third quarter of 2016 saw a modest increase in year over year deal volume. Eight new bonds were issued totaling USD1.1bn.

The outstanding volume of catastrophe bonds and Insurance Linked Securities (ILS) bonds linked to natural catastrophes increased to USD25.4bn, with ILS issued from Bermuda representing 70.4 percent (USD17.9bn of USD25.4bn).

Since 2010, Bermuda-based special purpose insurers have issued 145 ILS bonds while 165 special purpose insurers have been registered.

Bermuda is also host to foreign ILS listings. A total of 80 ILS deals are listed on the Bermuda Stock Exchange with an aggregate nominal value of approximately USD18.6bn.

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