USAA issues their 12th catastrophe bond

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USAA have just become the largest issuer of catastrophe bonds ever by completing their 12th deal in as many years.

Residential Re 2008has just closed to cover USAA for windstorm, earthquake and other peril risks. Since 1997 USAA has issued nearly $3b worth of natural catastrophe bonds, the largest by volume issued.

Details of this deal and other recent catastrophe bonds can be found in our Deal Directory.

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Edit 31/05/08: Further details of this transaction have been added to our deal directory.
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