Issuance of catastrophe bonds last year hit its highest level since 2007 and rose 35% year-over-year, according to an Aon Benfield report. Insurance-linked securities for the fourth quarter of 2012 had strong issuance volumes, "adding to the consistently impressive quarterly performances for the year as a whole," said Aon Benfield Securities CEO Paul Schultz. "In the absence of severe catastrophic events, we expect 2013 to be another positive year of returns" for the insurance-linked securities market, Aon Benfield said.

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