Shaken but not deterred: Lat Am quake cover drives largest World Bank cat bond
The World Bank has priced $1.36bn of catastrophe bonds to provide earthquake protection to Mexico, Chile, Colombia and Peru, despite bondholders losing their principal on Mexico’s last cat bond after a quake in September.
Given that the only larger cat bond — a $1.5bn Everglades Re deal for Florida hurricane protection issued in 2014 — covered a different risk in a different country, this deal represents a new milestone for catastrophe risk transfer.It is by far the largest cat bond ever ...
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