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qroqqa commented on the word extreme-mortality bond
Swiss Re and Axa took the principle of [mortality derivatives] further with extreme-mortality bonds. These make a profit for the issuer if there’s a sudden spike in the death rate and thus can be used to hedge an insurer against a range of high-impact, low-probability events such as a bird flu pandemic.
—Cris Sholto Heaton in MoneyWeek, 24 Nov. 2006
November 26, 2008