IBRD / FONDEN 2017

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Hurricane Willa pressure rises, puts Mexico cat bond in the clear

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.Yesterday hurricane Willa read the full article →

Hurricane Willa pressure drops, risk to Mexico’s Fonden 2017 cat bond rises

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 read the full article →

Mexico confirms $150m cat bond payout for quake

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 read the full article →

Mexico expects $150m cat bond claim, aims to replace protection

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 read the full article →

AIR puts M8.1 Chiapas, Mexico quake industry loss at up to $1.13bn

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.It's a relatively high toll read the full article →

Mexico City hit by deadly M7.1 quake, causes significant property damage

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 read the full article →

Private ILS maybe exposed to Mexico quake, FONDEN cat bond loss expected

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.The ILS investment manager reported that the earthquake, which is thought to have read the full article →

Mexico M8.1 earthquake puts Fonden 2017 catastrophe bond at risk

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 read the full article →

Efficient, precise, refined, the World Bank’s latest cat bond

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 read the full article →

World Bank completes Mexico cat bond, ILS provides bulk of capacity

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.The parametric structured catastrophe bond transaction, called IBRD / FONDEN 2017, is composed read the full article →