report-card
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22 January 2016 Alternative Risk Transfer

ILS report card: fourth quarter and full year 2015

144A property and casualty (P&C) catastrophe bond primary issuance levels were uncharacteristically low in the fourth quarter, with an aggregate notional of $1.425 billion of 144A P&C catastrophe bonds issued, benefiting five sponsors. The 2015 full year primary issuance of 144A P&C catastrophe bonds totalled $5.917 billion from 25 transactions, benefiting 24 sponsors. 144A P&C risk capital outstanding as of December 31, 2015 totalled $22.640 billion, 0.56 percent lower than 2014’s all-time high in the 144A P&C catastrophe bond market (see Chart 1).

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