April 14th, 2009

Chart: 1Q2009 Cat Bond Issuance Activity

Posted at 12:15 AM ET


Three catastrophe bonds were issued in the first quarter of 2009, representing USD575 million of risk capital.* The number of transactions is equal to that of 2008’s first quarter, and the amount of risk capital is virtually unchanged (down 6.5 percent from USD615 million). While it is still too early to say that the catastrophe bond market will not be impacted further by the financial crisis, the resumption of issuance activity on a scale consistent with the beginning of 2008 is certainly a positive sign.

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* Securities or investments, as applicable, are offered in the United States through GC Securities, a division of MMC Securities Corp., a US registered broker-dealer and member FINRA/SIPC. Main Office: 1166 Avenue of the Americas, New York, NY 10036. Phone: (212) 345-5000. Securities or investments, as applicable, are offered in the European Union by GC Securities, a division of MMC Securities (Europe) Ltd., which is authorized and regulated by the Financial Services Authority. Reinsurance products are placed through qualified affiliates of Guy Carpenter & Company, LLC. MMC Securities Corp., MMC Securities (Europe) Ltd. and Guy Carpenter & Company, LLC are affiliates owned by Marsh & McLennan Companies. This communication is not intended as an offer to sell or a solicitation of any offer to buy any security, financial instrument, reinsurance or insurance product.

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