Merrill and Benfield to offer catastrophe bonds

Merrill Lynch has teamed up with Benfield, the London-based independent reinsurance and risk intermediary, to offer insurers and reinsurers catastrophe bonds as a form of alternative capital.

The move comes as primary insurers and reinsurers have become more interested in "cat" bonds after recent hurricane losses, likely revisions to cat models and ratings agency requirements.

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JPMorgan to Pay $330 Million Over 1MDB TransactionsExternal link

JPMorgan to Pay $330 Million Over 1MDB Transactions