Tallying up total catastrophe bond issue for 2013, Willis Capital Markets Advisory put the figure at $7.1 billion, just shy of the $7.2 billion record of 2007.
Last year saw a record number of 29 catastrophe bond deals, according to WCMA, the capital markets division of Willis Group Holdings.
In its report last week, WCMA also said that overall outstanding capacity at year-end reached $18 billion and has now grown at a compounded growth rate of 18 percent since 2000.
In the fourth quarter, $1.8 billion of non-life catastrophe bond capacity raised in seven deals, compared to $1.9 billion issued in the same number of deals in fourth-quarter 2012.
American Modern Insurance was a new sponsor in fourth quarter 2013, WCMA said, referring to the company’s $75 million Queen City Re bond.
Source: Willis Capital Markets & Advisory