First terrorism bond opens the way for more

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First terrorism bond opens the way for more

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Day 15 of Banksy's month-long York residency 'Better out than in' appeared today in Tribeca in New York City on October 15, 2013. The latest piece is a small silhouette of the Twin Towers with a yellow and orange flower marking the spot where the first airplane hit. Photo by Dennis Van Tine / ABACAUSA.COM | Dennis Van Tine/ABACA USA/PA Images

The capital markets look ready to assume more insured risk related to terrorist attacks, after UK reinsurer Pool Re, which has a government guarantee, placed the first catastrophe bond specifically covering the peril. The organisation's equivalents in other countries could consider issuance, writes Jasper Cox.

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