Issuance of non-life insurance securities to hit record $9 bln
LONDON, Oct 16 (Reuters) - Issuance of non-life insurance linked securities will hit record levels of $9 billion by the end of this year, exceeding the previous high of $7 billion in 2007, Willis Capital Markets & Advisory (WCMA) predicted in a report on Thursday.
Issuance this year is just about $1.2 billion short of 2007 levels, said the WCMA, which expects up to $9 billion of non-life ILS issuance this year on a broader participation of investors.
The target is achievable despite a dull third quarter this year when only one transaction hit the market, WCMA, part of Willis Group Holdings, said. (Reporting by Nishant Kumar; editing by Freya Berry)