NU Online News Service, June 10, 3:03 p.m. EDT
The total risk capital of insurance-linked securities dropped by $223 million despite the second highest two-quarter issuance of catastrophe bonds in the history of the market, says Guy Carpenter Securities.
In its May report on the catastrophe-bond market, Guy Carpenter, the reinsurance brokerage arm of Marsh & McLennan Cos., says first-quarter risk capital declined from year-end 2010 from $12.19 billion to $11.97 billion. This decline occurred despite a record $1.02 billion in new and renewal catastrophe bonds.
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