Recovering from 'Hurricane Lehman'

Catastrophe bonds


Few, if any, asset classes have survived the financial crisis with their reputations among investors intact. But the catastrophe bond market stood a better chance than most due to its claimed lack of correlation with more traditional asset classes.

Put simply, the events that wreaked havoc for equities, credit, currencies and commodities have no bearing on whether an earthquake is going to hit Tokyo or a windstorm wreck European towns and cities. That argument remains true today - but the market

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