IBRD / FONDEN 2017

Hurricane Willa’s minimum central pressure has now risen as the storm has weakened slightly, which puts Mexico’s World Bank supported IBRD / FONDEN 2017 catastrophe bond in the clear as the storm will now not be sufficiently intense when it enters the parametric box to trigger any payout.

Hurricane Willa has intensified on approach to the Pacific coastline of Mexico with its winds reaching Category 5 strength at 160 mph and the central pressure dropping further to 925 mb, increasing its threat to trigger a $110 million Class C tranche of notes from the World Bank supported IBRD / FONDEN 2017 catastrophe bond […]

The Mexican government has confirmed that it will receive a $150 million payout from the World Bank supported IBRD / FONDEN 2017 catastrophe bond (as Artemis was first to reveal on the 8th September) after the calculation agent confirmed that the earthquake on 7th September met all the parameters required to trigger and default the […]

The government of Mexico is expecting to receive the $150 million payout from the triggered $150 million tranche of IBRD / FONDEN 2017 catastrophe bond notes, that were hit by the Chiapas region earthquake in September, and will look to replace the layer with a new cat bond issue, according to a report.

The September 8th magnitude 8.1 earthquake that struck off the coast of Chiapas, Mexico is estimated to have caused an insurance and reinsurance industry loss in a range from MXN 14 billion (US $787m) to MXN 20 billion (US $1.13bn), according to catastrophe modeller AIR Worldwide.

Mexico has been hit by another major earthquake yesterday. The magnitude 7.1 temblor struck at 18:14:39 UTC (13:14 local) on Tuesday 19th September, with the epicentre near Atencingo in Puebla state, 75 miles from Mexico City. Extensive damage has been reported to buildings and the death toll stands at over 200 this morning.

ILS and reinsurance linked investment manager Twelve Capital has said that there could be private ILS transactions, usually collateralized reinsurance arrangements, which are potentially exposed to last Friday’s magnitude 8.1 earthquake that struck off the coast of Mexico.

A magnitude 8.1 earthquake has struck off the coast of Mexico this morning, a tremor strong enough and close enough to the coastline of the country that it puts the recently issued World Bank supported IBRD / FONDEN 2017 catastrophe bond at risk of being triggered. Update – sources suggest this cat bond could be […]

The parametric trigger in the latest catastrophe bond to be issued with the assistance of the World Bank, the $360 million Mexico earthquakes and named storm cat bond IBRD / FONDEN 2017, offers the sponsoring government of Mexico a more efficient layer of risk transfer, due to its more precise and refined structure, according to […]

The World Bank has announced the completion of its $360 million Mexico catastrophe bond transaction, which protects against Mexico earthquakes and named storms, and of which the majority of the capacity came from the insurance-linked securities (ILS) space.