NU Online News Service
With the prediction of a very active hurricane season on the horizon, a report on catastrophe bond activity shows 2010 second-quarter transactions were the second most active on record, but outstanding capital is down.
In its report on the cat bond market, titled "Catastrophe Bond Update: Second Quarter 2010--Activity Surges," Guy Carpenter Securities, part of reinsurance broker Guy Carpenter, which is a subsidiary of Marsh & McLennan Companies, said there were eight cat bond transactions completed in the second quarter of this year for a total of $2.05 billion.
This was the second most active second quarter on record, Guy Carpenter said, but despite this activity, total capacity has dropped slightly.
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