Investors have shown an increased willingness to invest in sub-investment grade mortality bonds over the past few years and that trend is accelerating. This presents an opportunity for insurers to further de-risk balance sheets as Solvency II becomes business as usual, removing more underwriting risk for a lower price than ever before. But is it realistic to expect a glut of first-time issuers of extreme mortality bonds in a market that has been dominated by only a few big names?
Those few big
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- Risk solutions house of the year: HSBC