iStock.com / James Brey
There has been steady growth in the Bermuda ILS market, according to the latest report from the Bermuda Monetary Authority.
The total nominal amount of outstanding insurance-linked securities (ILS) in the Bermuda market increased in 2016 2.4 percent year over year to $26.9 billion, according to the Bermuda Monetary Authority (BMA).
In its latest report on the ILS market the BMA said that six bonds were issued in the fourth quarter totalling $2.1 billion, while two deals matured with a notional value of $600 million.
Bermuda remains the leading jurisdiction for the issuance of catastrophe bonds. ILS issued from Bermuda represented 71.1 percent ($19.2 billion of $26.9 billion) of total outstanding capacity at the end of Q4 2016. Since 2010, 174 Bermuda-based special purpose insurers (SPIs) have been registered and have issued 149 ILS.
Bermuda, Bermuda-based, ILS, capacity, transactions, volume