NU Online News Service, July 14, 2:32 p.m. EDT
A quiet second-quarter catastrophe-bond market reflects the desire among investors to put their money into places other than U.S. hurricane risks, a report from Willis Group Holdings says.
In a report titled “The Market Digests a New Hurricane Model Amid Light Issuance Volume,” Willis Capital Markets & Advisory (WCMA), a part of insurance broker Willis, notes that only four new catastrophe bonds were issued during the second quarter, amounting to close to $600 million. This is in contrast to the prior year's transactions that amounted to more than $2 billion.
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