da kuk / istock
The insurance linked securities (ILS) market is already facing a better first half of the year than it saw over the same period of 2016, according to Paul Schultz, CEO of Aon Securities.
Schultz said that so far for 2017, as of April 13th, Aon Securities had seen levels of catastrophe bond issuance in the market of around $3.7 billion, a rise of 46% on the same period of last year.
“We said at the beginning of the year that 2017 could see total issuance of around $8 billion,” said Schultz. “However, we now think that that forecast could be on the low side.
“At present, if things continue as they have been, it is quite likely that the final total will be higher than that initial estimate, and while it remains unknown as to how much higher. We are more and more confident that we will see our estimate met – and potentially exceeded.”
Paul, Schultz, insurance, linked, securities, ILS, issuance, bonds, cycle, stronger