The Catastrophe Risk Exchange, Inc. (CATEX) announced today that 1400 transactions have now been executed and more than $10bn (£7bn) in reinsured limit bound on its worldwide trading systems.
CEO Francis X. Fortunato commented: "Our reports indicate that in excess of $900m (£630m) in reinsurance premium is accounted for by the 1400 transactions and it is possible that the figure may reach $1bn (£700m) by the time all data is received."
