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Catastrophes wear out ILS investors

A year and a half of costly insurance losses from the disasters such as the 2017 US hurricanes and last year’s wildfires in California are grinding down investors in catastrophe bonds and other insurance-linked securities. That raises questions over the direction of a market that has experienced consistent growth up to now, writes Jasper Cox.

  • By Jasper Cox
  • 03 Jan 2019

The weaker sentiment has been demonstrated by a more cautious attitude to this year’s January renewals, where insurance firms reinsure the risk on their balance sheets, and by a fall in the value of funds that buy cat bonds.

Cat bonds, and the broader ILS asset class of ...

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GlobalCapital European securitization league table

Rank Lead Manager/Arranger Total Volume $m No. of Deals Share % by Volume
1 Citi 3,237 10 19.12
2 Goldman Sachs 2,096 5 12.39
3 Morgan Stanley 1,965 5 11.61
4 BNP Paribas 1,686 6 9.96
5 Barclays 1,565 4 9.25

Bookrunners of Global Structured Finance

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 Citi 30,859.27 98 11.48%
2 JPMorgan 25,558.51 72 9.51%
3 Wells Fargo Securities 24,627.51 67 9.16%
4 Bank of America Merrill Lynch 23,023.30 73 8.56%
5 Barclays 16,546.45 55 6.16%