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Cat bonds, ILS to expand into new peril regions: S&P

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Gary Martucci, director of global insurance ratings at U.S.-based ratings agency Standard & Poor's Corp., has said that insurance-linked securities and catastrophe bonds will expand into new peril regions in the next few months, Artemis.bm reported. ILS can fill the protection gap for areas that are prone to natural catastrophes but have minimal insured values. Mr. Martucci added that there is an opportunity for the ILS space to play a greater role in providing reinsurance for corporations.

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