mexico

Hurricane Delta has now intensified into the third major hurricane of the 2020 Atlantic storm season and with further strengthening in the forecast this storm could pose a test for the World Bank issued FONDEN 2020 catastrophe bond sponsored by the Mexican government.

Tropical storm Delta has quickly intensified to become Category 2 hurricane Delta as it moves through the Caribbean and the hurricane is now expected to reach major status, of Category 3 or higher, as it moves towards a landfall on the central U.S. Gulf Coast at the end of this week.

Hurricane Genevieve remains a strong category 3 hurricane as it barrels towards the Baja Peninsula of Mexico in the Pacific, with sustained winds of 115 mph and higher gusts, but with the central pressure of the storm now rising it suggests there is no threat to the World Bank issued parametric Mexico catastrophe bonds.

Southern Mexico was struck by a significant Magnitude 7.4 earthquake on Tuesday at around 15.30 UTC, but while the location of the earthquake appears to have fallen within a box relevant to the parametric trigger of the World Bank supported IBRD / FONDEN 2020 catastrophe bond, it does not look strong enough to have triggered […]

The government of Mexico has said that its newly issued $485 million World Bank facilitated catastrophe bond, the IBRD / FONDEN 2020 transaction, is an important part of the country’s social protection strategy and reflects its “enormous commitment” to protecting its citizens from natural disasters.

Mexico’s latest World Bank supported catastrophe bond, the IBRD / FONDEN 2020 transaction, has now successfully secured $485 million of capital markets backed natural disaster insurance protection for the country, upsizing by 14% thanks to investor demand.

The upper-end target for the government of Mexico’s latest World Bank supported catastrophe bond issuance has been lifted, with the IBRD / FONDEN 2020 transaction now seeking up to $525 million of parametric earthquake and hurricane protection for the country.

The government of Mexico has returned to the catastrophe bond market with the help of the World Bank and its International Bank for Reconstruction and Development (IBRD), seeking a $425 million or larger slice of parametric earthquake and hurricane disaster insurance from the capital markets through an issue we’ve named IBRD / FONDEN 2020 that […]

A magnitude 7.2 earthquake that struck southwest Mexico in the Oaxaca region, causing buildings to sway in the capital Mexico City over 200 miles away, has hit directly within the parametric trigger zones for the recently issued World Bank supported IBRD CAR 118-119 catastrophe bond, but the magnitude is unlikely to be high enough to […]

According to a report from Reuters, the Mexican government is planning to sponsor another catastrophe bond and is currently seeking bids from companies that can help to facilitate the issuance of a three-year cat bond covering hurricane and earthquake risks.