Insurers are turning increasingly to catastrophe bonds to better manage exposure, according to a recently issued report from Standard & Poor's.
Since 1997, 69 catastrophe bonds have been issued with a total of $10.65 billion in risk limits, while about $1.9 billion worth of bonds were issued last year in ten separate transactions by nine issuers.
Nearing the first decade of existence, S&P found the bonds are becoming an increasingly attractive alternative to reinsurance as a means of insurer risk exposure.
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