Despite issuances of catastrophe bonds in 2012 reaching the highest levels since 2007, the chances of an Asian-based insurer or reinsurer issuing a catastrophe bond remains low in the near term say market participants.
This is because the cost of issuing a catastrophe bond in Asia is currently more expensive than the traditional reinsurance route taken by most insurers in the region to hedge their catastrophe risk. As a result there is yet to be a home-grown issuance in Asia, meaning an Asian co
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