Pressure on cat bond rates accelerates in Q2

10 May 2021

Cat bond spreads have experienced steeper pressure on rates as the second quarter has worn on, and as sponsors secure rates that are in some cases among the lowest agreed in the past five years for US wind deals on the ILS market.

Spreads settled 14% below the initial mid-point of sponsor expectations on a weighted average basis for deals marketed to date in the second quarter.

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