
Cat bonds set to become new face of structured credit, say Axa chiefs

Catastrophe bonds could lead the recovery of the structured credit market, according to Axa Investment Managers. Pierre-Emmanuel Juillard, head of structured finance, and Christophe Fritsch, head of insurance-linked securities, predict cat bond issuance will reach $5–6 billion in 2010, up from $3.6 billion in 2009. By 2016, they estimate issuance could reach $30 billion.
Juillard and Fritsch say demand for the currently niche product will be driven by a desire for uncorrelated assets in
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