September 11 boosts cat bond market

NEWS

LONDON -- The September 11 attacks on the US gave a significant impetus to the catastrophe bond market, but the full impact won’t be seen until the end of this year or the beginning of next, Lloyd’s of London insurance market underwriters Hiscox Syndicates said in April.

Hiscox made the comments when announcing the private placement of $33 million of catastrophe-linked notes that provided Hiscox with a new source of reinsurance protection for earthquake events in the California and New Madrid

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