Smaller ILS fund managers criticised the limited circulation of "club" private cat bonds after it emerged that Aon Benfield Securities (ABS) privately sold a $160mn Japanese typhoon bond for Tokio Marine to a handful of larger investors.
Smaller ILS fund managers criticised the limited circulation of "club" private cat bonds after it emerged that Aon Benfield Securities (ABS) privately sold a $160mn Japanese typhoon bond for Tokio Marine to a handful of larger investors.