July 27th, 2009

Chart: 2Q2009 Issuance by Trigger Type

Posted at 12:55 AM ET


Indemnity-triggered bonds accounted for USD250 million (31 percent) of issuances. Modeled Loss triggers were next at USD180 million (22 percent), with Weighted-PCS index triggers following at USD150 million (19 percent). Multiple Trigger transactions (Multi-peril transactions utilizing different triggers for each covered peril) reached USD127.6 million (16 percent), and USD100 million (12 percent) came from a Modified Industry Trigger Transaction- (MITT-) triggered bond.

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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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