Finance et Investissement quotes Toronto lawyer Koker Christensen in an article on the insurance-linked securities market.
In Canada, the cat bond market is still young, according to Peter Morris.
That’s also the opinion of Koker Christensen, a partner with the law firm of Fasken Martineau and observer of the insurance-related securities market. He noted that most of the time, “purely Canadian” catastrophes are protected by bonds that cover other countries.
The main reason, according to Mtre Christensen, “has to do with the availability and cost of reinsurance in Canada. Insurers don’t feel the need to use the capital markets,” remarked Koker Christensen.