Pandemic cat bond news
Pandemic cat bond news related to the World Bank’s issuance of pandemic catastrophe bonds as part of the insurance window financing for the Pandemic Emergency Financing Facility (PEF).
The World Bank’s IBRD issued $320 million of pandemic catastrophe bonds and $105 million of pandemic risk linked swaps to provide capital markets backed reinsurance financing for the PEF.
The pandemic cat bond notes faced threats from an Ebola outbreak and the 2019/20 Covid-19 coronavirus pandemic.
Payments from the World Bank's Pandemic Emergency Financing Facility (PEF) to member countries of the International Development Association (IDA) could begin as early as next week, as the capital lost by holders of the triggered pandemic catastrophe bonds and swaps looks set to be mobilised rapidly. As we were first to read the full article →
The World Bank issued pandemic catastrophe bonds and pandemic risk-linked swaps have now been triggered and will pay out $195.84m, we've learned today, after the final trigger parameter of the growth-rate of coronavirus cases turned positive. Sources told us that the all-important growth rate factor turned positive as of March 31st, read the full article →
The World Bank issued pandemic catastrophe bonds, as well as the pandemic risk-linked swaps that were issued at the same time, have not yet been triggered by the Covid-19 coronavirus pandemic as the growth rate hasn't reached the necessary level to breach the parametric trigger. No loss payment is due at read the full article →
The World Bank’s pandemic catastrophe bond issuance looks increasingly likely to suffer a significant loss of investor principal due to being triggered by the ongoing Covid-19 coronavirus outbreak, but John Seo of Fermat doesn’t think that will dent investor appetite for the risk. As we explained in this recent article, it read the full article →
The payout from the World Bank issued pandemic catastrophe bonds, as well as the pandemic risk-linked swaps that were issued at the same time, may reach just under $196 million in total, if the ongoing Covid-19 coronavirus outbreak triggers the financial instruments. The impact from the Covid-19 coronavirus pandemic has more read the full article →
It’s business as usual in the catastrophe bond market despite the global crisis of the Covid-19 coronavirus outbreak, according to John Seo, Co-Founder and Managing Director of Fermat Capital Management. Commenting in a recent communication to his investors on the coronavirus outbreak, its effects on global financial markets and whether that read the full article →
The President of the World Bank Group David Malpass has highlighted the importance of financial preparation for pandemic emergencies, of the kind provided by the Pandemic Emergency Financing Facility (PEF), which is backed by insurance including the now much-discussed World Bank issued pandemic catastrophe bonds. With the two tranches of notes read the full article →
The insurance-linked securities (ILS) fund market does hold some exposure to contingency related risks, including from event related exposures, which means there is a chance of some claims leaking to ILS funds from coronavirus triggered claims, Hudson Structured partner Edouard von Herberstein said today. Speaking at the SIFMA Insurance and Risk read the full article →
The secondary market price for the tranche of the World Bank's pandemic catastrophe bond that is most at-risk of paying out due to the spreading global coronavirus outbreak has plummeted, while the lower risk tranche has now also been marked down. As we explained last week, secondary market pricing for the read the full article →
Secondary market pricing for the World Bank's pandemic catastrophe bond notes are set to decline, significantly for one tranche, after the coronavirus outbreaks spread resulted in a second triggering condition being met, Plenum Investments believes. While the pandemic cat bond issued by the World Bank has not yet been triggered and read the full article →