Insurance and reinsurance broker Aon reported today that year-to-date it has seen a 13% increase in catastrophe bond issuance volumes for the deals it has placed, while President Eric Andersen said the corporate stays agnostic as to type of coverage placed for clients, saying each has its place within the reinsurance capital stack.

Aon said in its third-quarter results today that it continues to have a number one position in catastrophe bond investment banking and broking.

Its placement work this 12 months has been across 25 cat bond deals to date, together accounting for $6 billion in limit placed, which is approaching half of the issuance seen to date this 12 months.

That represents a 13% increase over the prior 12 months period, Aon reported, which reflects the continued record-pace of catastrophe bond issuance year-to-date.

In response to Artemis’ Deal Directory data, Aon Securities, the investment banking and insurance-linked securities (ILS) arm of the broker, has played a job in placing almost $22.5 billion of the currently outstanding cat bond market.

Speaking during Aon’s earnings call today, President Eric Andersen explained that, for the corporate, it doesn’t matter if risk is placed in catastrophe bond or reinsurance form, as each has its place and every deliver value for the brokers’ clients.

Andersen explained, “Our goal here is to receives a commission for value, for what we deliver for clients, whether it’s in the shape of a reinsurance brokerage, whether it’s in the shape of cat bonds.

“These are very sophisticated clients, and we’ve got very sophisticated discussions around what our price proposition is within the structure.

“So we’re agnostic to the tool that they use, because they each have a job of their capital stack. When it comes to, there are specific risks that belong within the capital markets, there are specific risks that belong within the reinsurance market, and our goal is to assist the clients determine which one it does.”

Continuing to say that, “For us, we’re agnostic as to whether it’s a cat bond or whether it’s a standard reinsurance placement.

“But rest assured, the conversation with each of the clients around our price for what we’re doing for them could be very open and transparent.

“So for us, it doesn’t really matter which way it goes, because ultimately, we’re just trying to supply the fitting level of value to our clients.”