NU Online News Service, Aug. 9, 3:25 p.m. EDT

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.

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