Insurance-linked securitizations (ILS) are holding up even in the aftermath of the major natural disasters that hit during early 2011, said Standard & Poor’s in a release.

Catastrophe (CAT) bonds have performed within the agency’s expectations following the Japanese earthquake and tsunami. “In our view, those bonds that market participants would have expected to default (or to experience a first event trigger) have given issuers the protection they sought, and those that were not expected to default have performed to investors’ expectations,” S&P said.

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