Cat bonds becoming cheaper form of reinsurance: Willis executive

Willis Capital Markets & Advisory Ltd.'s chief executive Tony Ursano has said that catastrophe bonds are becoming an increasingly cheaper form of reinsurance, adding that the "dynamics" in the insurance-linked securities market is changing, The Royal Gazette reported.

Mr. Ursano's comments came after California's State Compensation Insurance Fund increased the offering of its Bermuda-based Golden State Re II Ltd. to $250 million from an initial $150 million after seeing strong investor demand, the Bermudian daily reported.

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