Huge profits made by investors on catastrophe bonds raising eyebrows

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Huge profits made by investors on catastrophe bonds raising eyebrows - Business Standard

Quick Summary:

Cat bonds are “for tail events,” which are rare disasters outside the norm, said Michael Bennett, head of derivatives and structured finance at the World Bank treasury.“The parameter isn’t the fine print, it is the print.

The country’s $150 million cat bond — arranged by the World Bank and bought by private investors — was issued this year to replace a 2021 bond.

For the $47 billion cat bond market, Beryl proved an early win for investors navigating their way through a hurricane season that’s expected to be unusually active.