IBRD – Chile 2023

For Chile, the completion of the largest single country catastrophe bond and swap transaction ever executed by the World Bank has resulted in $630 million of protection against earthquake risks, an important step towards more resilient public finances, the country’s Finance Minister Mario Marcel has said.

Chile has secured $630 million of earthquake insurance cover through its World Bank IBRD issued arrangement, with $280 million of catastrophe swaps to add to the recently priced $350 million IBRD – Chile 2023 catastrophe bond.

The Republic of Chile has now secured the upsized $350 million size target for its new IBRD – Chile 2023 parametric earthquake catastrophe bond, with pricing of the World Bank IBRD issued transaction now finalised at the low-end of initial guidance.

The Republic of Chile is clearly seeing strong investor demand for its new IBRD – Chile 2023 parametric earthquake catastrophe bond, with the World Bank IBRD issued transaction set to increase again, with between $325 million and $350 million now targeted.

The Republic of Chile has lifted the target for protection from its new IBRD – Chile 2023 parametric earthquake catastrophe bond to as much as $300 million, a potential doubling in size for the World Bank IBRD issued transaction.

Chile’s new catastrophe bond will sit as a key component of a new catastrophe risk management strategy that the country is putting into place, with the proposed $150 million or greater parametric IBRD – Chile 2023 cat bond transaction set to play a key financing role for less frequent, but more severe earthquake events, Finance […]

The Republic of Chile is aiming to secure $150 million of parametric earthquake disaster insurance protection through a new IBRD – Chile 2023 transaction that is being issued by the World Bank’s multilateral development bank, the International Bank for Reconstruction and Development (IBRD).