Ed Noonan is frustrated. He’s chief executive officer of Validus Holdings (VR), which manages an investment portfolio of insurance-linked securities, among other things. These are more frequently referred to as “catastrophe bonds”; in the event of a natural catastrophe, they offer a return but lose their principal to pay for insurance losses. Validus is being undercut in this market by fund managers who are, according to Noonan, no longer behaving rationally.
Das Portal zur beruflichen Vorsorge der Schweiz