What kind of presents might be waiting for the reinsurance market under this year's Christmas tree?
A gigantic box from XL will certainly have put cat bond investors in a good mood after a year in which they might have felt overlooked by reinsurance buyers.
But given how competitive rates are in the market, it's no surprise that XL was feeling generous.
There could also be some unusual shapes and surprises, as the sector continues to try to break new...
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