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GC Securities worked on record $5 billion of cat bond limit in H1 2026
Guy Carpenter CEO Dean Klisura said property catastrophe pricing fell sharply in the first half, with its property cat rate-on-line index down 16% at mid-year.
GC Securities, the investment banking and capital markets arm of reinsurance broker Guy Carpenter, worked on 20 catastrophe bond issuances in the first half of 2026, totaling $5 billion of limit, a record for the broker, according to Guy Carpenter CEO Dean Klisura. The figures were discussed on a second-quarter earnings call for parent company Marsh McLennan, Artemis reported.
Klisura said the broker’s performance occurred despite pricing headwinds, pointing to property catastrophe rate-on-line weakness. He cited that the property cat rate-on-line index was down 16% at mid-year, accelerating from a decline of 12% at the January 1 renewal, and described it as the steepest year-over-year drop since the index began 25 years ago.
He added that Guy Carpenter still delivered strong execution in a challenging market, with record new business in the first half. Klisura said the broker posted strong double-digit new business growth, its RFP win rate was at its highest level, and growth outside property included international facultative business expanding at double-digit rates and casualty business growing in the mid-single digits.
Klisura also highlighted the broker’s Global Capital and Advisory Unit, which includes GC Securities, structured solutions, and capital and M&A. He said the unit delivered strong double-digit growth and led 20 cat bond issuances totaling $5 billion of limit in the first half of 2026, while Guy Carpenter continued to invest in headcount and production talent.