It isn’t often that a single catastrophe bond transaction is threatened by two events in as many weeks, but it’s only just over two weeks since the MultiCat Mexico 2009 Ltd. cat bond was threatened by Jova on the Mexican Pacific coast and now the same cat bond is threatened by another hurricane bearing down […]
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Hurricane Jova is approaching the Pacific coastline of Mexico carrying maximum sustained winds of 115mph. Jova, a major hurricane, has weakened slightly but is still expected to cause significant damage as the storm makes landfall near Manzanillo, both from the strong and damaging winds and torrential rainfall Jova will bring to higher ground. Interestingly, hurricane […]
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The Finance Ministry of Mexico has announced (read a translation of the press release here) the completion of the MultiCat Mexico 2009 Ltd. catastrophe bond deal. The deal (full details here and in our Deal Directory) is designed to protect Agroasamex and in turn the Mexican fund for natural disasters against losses from certain hurricanes […]
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The catastrophe bond market is back in business again as one of the deals that has been a while in the making receives its preliminary ratings from Standard & Poor’s. FONDEN, the Mexican Fund for Natural Disasters is sponsoring a transaction called Multicat Mexico 2009 which is valued at $250m. The deal sees FONDEN enter […]
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