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GC Asia
Investors bet on UK terrorist attacks in cat bond first
Pool Re, a government-backed reinsurer, has priced the first ever catastrophe bond to cover terrorist attacks specifically, allowing investors to receive a return from providing insurance cover. Those on the deal claim it shows the depth of the UK’s financial expertise in the insurance linked securities (ILS) market.
The deal marks a significant moment for the cat bond market, which is traditionally used to sell risk related to damage from natural disasters, such as hurricanes and earthquakes. It also comes at a time when the UK is seeking to boost its credentials as an ILS hub,
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