Risk assumption in Bermuda

Over the last approximately three years (from the second half of 2012 through the first quarter of 2015) only two Bermuda-issued insurance-linked securities (ILS) can be identified as covering risk unrelated to natural catastrophes, according to the Bermuda Monetary Authority (BMA). The coverage of property catastrophe during the referenced period amounts to 76 of 78 deals and $14,791 million of an overall issued total of $15,032 million.