Property Catastrophe Bond Placement Reaches Record in 2020 and Q4: Aon February 4, 2021 Approximately $11 billion of property catastrophe bond limit was placed in 2020, the highest on record, according to a new Aon report that projects the growth momentum will continue in 2021. While the year was a record for cat bond issuance, results for the 2020 fourth quarter also broke new ground. Q4 issuance reached a record $3.7 billion, Aon said in its report titled “Insurance-Linked Securities — Aon Securities Q4 2020 Update.” Aon tracked 46 property/casualty transactions in 2020 completed by 36 sponsors, with an average deal size of $234 million. Aon said that the total amount of property cat bonds outstanding is up about 2 percent for the year, from $29.5 billion in 2019.