alt=""I don't think we've seen a market like this since cat bonds were born in the 1990s," said Toby Pughe, an analyst at Tenax. Credit: EvgeniyQW/Adobe Stock" width="767″ height="633″ /> "I don't think we've seen a market like this since cat bonds were born in the 1990s," said Toby Pughe, an analyst at Tenax. Credit: EvgeniyQW/Adobe Stock

(Bloomberg) — For hedge funds, the science of catastrophes helped generate the best returns of any alternative investment strategy last year.

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