Catastrophe Bond Funds Say They’ll Dodge Losses as LA Fires Rage
Source: Live Mint (Bloomberg) — The wildfires sweeping through Los Angeles are unlikely to trigger significant losses in catastrophe bonds designed to capture such risks. Roughly 12% of the $50 billion cat-bond market is currently exposed to wildfire risk, according to Florian Steiger, chief executive officer of Icosa Investments AG, a Swiss-based investment firm. Even…