Informizely customer feedback surveys

Shop Insurance Canada News

Canadian risk influencing cat bond market

By: , Published on , Last Update on January 31, 2017 01:25 PM


Canadian risk is becoming a “fairly prominent” occurrence in the catastrophe bond market. Property Claim Services’ (PCS) released its full-year cat bond for 2016 and showed that three cat bonds issued during the year were for Canadian risk.

The report, titled Strong Finish: PCS FY2016 Catastrophe Bond Report, shows that the three risks covered through 2016 in Canada were Galileo Re, Galilei Re, and Atlas IX. The report, released Wednesday, explains that Galileo occurred in the first quarter, while Galilei happened in the fourth quarter. Atlas IX was also a first quarter occurrence.

In total, the three cat bonds issued came to $1.4 billion in capital to the market. All three used the PCS Catastrophe Loss Index for the United States and Canada.

Overall, the fourth quarter is the most robust for cat bonds, a trend that was continued in 2016. “As a result, the fourth quarter was nearly as active as the same period in 2014 and up significantly year over year,” the report said. “Total issuance fell slightly from 2015 and remains well off the 2014 result of nearly US$8 billion.”

Category: News

shopinsurancecanada.ca


SUBSCRIBE TO OUR NEWSLETTER

Get the latest updates on Ontario insurance rates, multi-line bundle discounts & recent insurance news.

 
Please wait 10 seconds before you submit!

We take your privacy very seriosuly, and hate spam as much as you!

Welcome to Canada’s authoritative source for insurance news, information and rates.

Copyright 2017 ShopInsuranceCanada ShopInsuranceCanada | 1003-60 Bathurst St. Toronto, ON M5V 2P4 Canada | 416-913-0151 | Privacy Policy | Terms & Conditions