NU Online News Service, May 1, 12:22 p.m. EDT
The first quarter of 2012 hit a record in the catastrophe-bond market as property and casualty insurance sponsors introduced eight new tranches, increasing the issuance of securities by 32 percent over the same period last year.
In its quarterly report, “Strong Start to 2012 Sees Record First Quarter Issuance,” insurance-broker Willis Capital Markets & Advisory says the market had more than $1.3 billion of non-life capacity compared to more than $1 billion for the same period last year.
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