The calculation agent for a catastrophe bond issued by Peru and the World Bank has determined that the South American country will receive $60m from the notes after an earthquake struck last month, according to a source close to the deal.
The tremor on May 26 left two people dead and at least 30 injured.
This called into focus
a cat bond issued in February 2018 by the World Bank: a $1.36bn deal
giving earthquake protection to Mexico, Chile, Colombia and Peru. This was the largest cat bond issued