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Colombia set for quake catastrophe bond within weeks: Finance Minister

The first catastrophe bond covering earthquake risks from the government of Colombia is expected to be launched within a matter of weeks, according to the country's Minister of Finance and Public Credit, as the country looks to capital market sources to improve its disaster risk transfer and financing.Mauricio Cardenas, the read the full article →

Pacific Alliance & World Bank sign MultiCat cat bond agreement

The Pacific Alliance trade bloc in Latin America has now signed an agreement with the World Bank to issue a catastrophe bond transaction in 2018 to protect against natural catastrophe events across the member countries.Earlier this year 2018 had been discussed as the potential year for issuance of a MultiCat read the full article →

Philippines renews push for mandatory catastrophe insurance

The Philippines Insurance Commission has renewed its efforts to push through a bill that would make property catastrophe insurance mandatory in the country, after lobbying failed to get the idea ratified before the change of President in the country.The proposal would see a significant increase in catastrophe insurance premiums within read the full article →

Chile looks to catastrophe bonds for disaster insurance

Chile is the latest sovereign government that is reportedly looking to a catastrophe bond issuance, providing a responsive source of disaster risk insurance or financing, as part of a goal to become more responsible about disaster and weather risk management.Speaking at the IMF and World Bank annual meetings held in read the full article →

World Bank confirms Philippines catastrophe bond discussions

The World Bank has confirmed that it is working on a multi-level approach to catastrophe insurance and disaster risk transfer for the Philippines, with catastrophe bonds one of the financial instruments options on the table.According to World Bank vice president and special envoy for climate change Rachel Kyte, the Philippines read the full article →

Philippines & World Bank nearing $100m – $300m cat bond: Purisima

The Philippines is in the final stages of the lengthy process of working towards issuing its first catastrophe bond. Working with the World Bank, the Philippines will target an issuance of between $100m and $300m in size, according to Cesar Purisima, Finance Secretary.The Philippines, as one of the most catastrophe read the full article →

Will 2011 see another MultiCat catastrophe bond?

The World Banks MultiCat catastrophe bond program was launched back in September 2009 with the MultiCat Mexico 2009 Ltd. catastrophe bond which provides Mexico with three years of cover against earthquakes and hurricanes which impact their FONDEN disaster fund.The deal was hailed as a first as it allowed a still read the full article →

The World Bank launches MultiCat Program to help governments issue cat bonds

The World Bank has published an announcement regarding its involvement in the MultiCat Mexico 2009 Ltd. catastrophe bond transaction. Their International Bank for Reconstruction and Development organisation was involved in helping the deal come to market and now it transpires that this could be just the first deal under a read the full article →