Hurricane season sparks cat bond flurry
The catastrophe bond market is expected to pick up pace over the next few months, with the arrival of the north Atlantic hurricane season at the start of June. Market participants estimate that between $1.5 billion and $2 billion of cat bonds will be launched this year, as reinsurers look to hedge their exposure after the devastation wreaked by hurricanes Katrina and Wilma in the US in 2005.
But while increased awareness of hurricane risk is encouraging greater issuance, the cost to issuers is
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