Lloyd’s of London and catastrophe go hand in hand. So much so that members of the London insurance market could be forgiven for feeling that Lloyd’s has been nothing but a catastrophe in recent years.
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The Lloyd’s building: The market’s syndicates are familiar with catastrophe |
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But the link with catastrophe took a new twist in April when Hiscox – one of the market’s largest and best regarded underwriters – became the first Lloyd’s syndicate to tap the insurance securitization market, placing $33 million of catastrophe risk-linked bonds via Aon Capital Markets.
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