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Indemnity trigger-based catastrophe bonds reached a record high of 51% in 2012, reported Artemis citing an insurance-linked securities market report by Swiss Reinsurance Co. Ltd.
In 2012, $3.2 billion of the $6.3 billion catastrophe bonds issued used indemnity triggers, more than double the indemnity based cat bond issuance of just $1.4 billion in 2011. Investors’ confidence in indemnity triggers is expected to drive further growth, the report said.