Storms ahead

Rankings 2004

There was some good news and some bad news for the weather risk industry last month. While weather traders lauded the issuance of an innovative catastrophe bond arranged by French bank CDC Ixis for the country’s state owned-utility Electricité de France (EDF), traders across the Atlantic lamented over the recommendations of a white paper by the National Association of Insurance Commissioners (NAIC). The Washington DC-based organisation for insurance regulators wants to see weather derivatives

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