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The 12 months to June 30 2020 saw a strong return to growth in the cat bond market, according to Aon, after a below average performance in the previous year.
Aon noted that three of the quarters in the period saw consistent and strong issuance, with Q3 2019 being the exception.
Q4 saw a record issuance of $2.2 billion, while Q1 2020 set another record of $4 billion. Q2 2020 saw strong issuance of $2.8 billion, which was dampened by the effects of COVID-19, driving a temporary pause in primary issuances across the insurance linked securities market.
In total, $9 billion was placed in the year in review, including life and health, Aon said.