Insurance-linked securities : fourth quarter 2014 update

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      <subfield code="a">The end of the 2014 calendar year marked a new record for annual property catastrophe bond issuance with a total of USD8.0 billion of limit placed. The groundbreaking period successfully continued the ascension of the catastrophe bond market since the financial crisis to surmount its prior annual peak of USD7.9 billion established in 2007. Although a record for property catastrophe bond issuance, the year fell just short of the record for total issuance (when including life and health transactions). Total issuance for 2014 reached USD8.2 billion</subfield>
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