Spreads in the secondary market for catastrophe bonds began to widen towards the levels seen for primary cat bond transactions as the first-half of the year drew to a close, broker-dealer Aon Securities has said.

Commenting on secondary cat bond market conditions through the second-quarter of 2022, Aon Securities, the investment banking and broker-dealer unit of the insurance and reinsurance broker, commentary suggests that market dynamics changed dramatically as the quarter progressed.

With a particularly active market pipeline and primary issuance timetable through the beginning of the second-quarter of 2022, the secondary cat bond market was not a particularly active trading venue, Aon Securities explained.


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