Carriers showed an increased interest in insurance-linked securities in 2012, producing a record year in cumulative-bond activity, says Aon Benfield.

"Fourth quarter 2012 ILS [insurance linked securities] issuance volumes were strong, adding to the consistently impressive quarterly performances for the year as a whole," says Paul Schultz, CEO of Aon Benfield Securities.

For 2012, catastrophe-bond issuance increased 35 percent from 2011, and was at its highest level since 2007, the report says.

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Loss Control