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 ...Please take a trial or subscribe to access this content.
Contact our subscriptions team to discuss your access: subs@globalcapital.com
Or sign up for a trial to gain full access to the entire site for a limited period.
Corporate access
To discuss GlobalCapital access for your entire department or company please contact our subscriptions sales team at: subs@globalcapital.com or find out more online here.
