Catastrophe bond issuance (non-life) totaled $8.1 billion last year, breaking the record set in 2007 when $7.2 billion in cat bonds were issued, according to data released Friday by Willis. The total in 2014 was 14.1% higher than the $7.1 billion of issuances in 2013.
Willis also noted in its Q4 2014 insurance-linked securities market update that capital provided by alternative markets increased 20% in 2014.
The firm said it expects spreads to continue to fall and assets under management will rise in 2015 -- barring a "major market moving event." 2015 issuance, the firm said, is expected to “modestly exceed 2014 numbers.”
