Catastrophe bond market nears $50 billion after back-to-back years of record issuance

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• Sales of catastrophe bonds surged to $17.7 billion this year, up 7% from last year to set another record, Artemis data shows.
• The bonds transfer the risk of hurricanes and earthquakes to investors, who see big returns if disasters don't happen.
• The surge in interest brings the bonds' total market to $49.3 billion.

A growing number of investors appear willing...