ILS market heads for bumper final quarter

Only two cat bond deals closed during the third quarter of the year but conditions remain favourable for an upturn in activity during the last three months of 2009, according to GC Securities in its latest bulletin on the market. The firm believes the period may witness cat bond issuance of $1.2bn to $2.2bn, with the total for the year in the $3bn to $4bn range.