Filed Under:Markets, Reinsurance

New Loss Estimate for Sandy Puts Two Cat Bonds at Risk

LONDON (Reuters) - Expectations that catastrophe bond investors will not lose money as a result of superstorm Sandy have been shaken by an estimate that losses for insurers from the Oct. 30 storm will top $20 billion.

A loss of that magnitude would trigger payouts on two catastrophe bonds sponsored by Swiss Re, the world's second-largest reinsurer, according to market participants.

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