Red Cross volcano bond attracts UK state

The Natural Disaster Fund, backed by the UK government, has a first option to subscribe to a small catastrophe bond to be issued by the Danish Red Cross, which conveys volcano risk.

  • By Jasper Cox
  • 11 Jul 2019

The deal is set to be the first cat bond covering solely volcano risk. Cat bonds involve investors receiving a coupon but risking losing their principal if a disaster breaches a trigger in the bond.

The NDF has the first right to subscribe to up to $5m of the ...

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