Insight and Intelligence on (Re)insurance Convergence with the Capital Markets

24 March 2018

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New bonds tighten on secondary market

16 June 2017

Newly issued cat bonds, including the latest Alamo Re and Citrus Re 2017-1, have already traded above par on the secondary market, in a sign of strong ILS demand.

Citrus Re 2017-1, which priced in March, reached $100.4, up from $100.25 in the middle of May, Trace records show. Alamo Re 2017-1, which settled in May, was sold at $100.2.

However, the overall Swiss Re Cat Bond Price Return index dropped slightly in June, reflecting the seasonal downturn at the...

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