Cat bond market boom not slowing reinsurance demand: Gallagher Re
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Cat bond market boom not slowing reinsurance demand: Gallagher Re

Tom Wakefield_Gallagher_2021.jpg

Gallagher Re CEO Tom Wakefield has said increased cat bond volumes had not impacted overall reinsurance demand, as sponsors were typically driven to the ILS market to add diversification into their counterparty panels.

Cat bonds gave cedants a “hedge on both duration and capital type”, he noted.

Meanwhile, Wakefield said over-subscriptions on cat reinsurance programmes have been driven by a psychological shift among reinsurers, with the potential for sign-downs to leave excess capacity...

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