Appleby highlights ILS involvement
Legal company Appleby has announced that it played a part in the majority of transactions involving insurance-linked securities (ILS) during 2017.
The company pointed out that according to figures published by the Bermuda Stock Exchange (BSX) and the Artemis Deal Directory & Dashboard, 62 new transactions resulted in a record amount of catastrophe bonds being issued in 2017 ($12.56 billion), with ILS listings on the BSX also reaching a high of almost $26 billion.
Of these transactions Appleby was involved in more than two-thirds of the Bermuda-based deals and the majority of all the deals globally. It added that these transactions were some of the highest value and innovative catastrophe bonds issued during 2017, including new and repeat issuers as well as collateralised reinsurance structures.