European cat bond market poised to grow as UK ILS law passes

Something is brewing in the catastrophe bond market. Last month the UK government passed a law allowing the creation of insurance-linked security (ILS) vehicles, paving the way for the first ever transaction. More issuance is expected, while more insurers around Europe are expected to consider catastrophe bonds, reports Jasper Cox.

  • By Jasper Cox
  • 11 Jan 2018

Last month's Risk Transformation (Tax) Regulations 2017 and Risk Transformation Regulations 2017 represented the final stage of a process stretching back to the UK government's budget in 2015, when then chancellor George Osborne announced a plan to design a framework to attract ILS business to the country.

“The change ...

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3 Citi 9,751 23 10.76
4 Lloyds Bank 7,329 24 8.09
5 JP Morgan 6,580 10 7.26

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