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Philippines Gov requests cat bond loss calculation for typhoon Goni

The Bureau of the Treasury of the Republic of the Philippines has issued notice to the calculation agent for its World Bank facilitated IBRD CAR 123-124 catastrophe bond transaction that it believes recent super typhoon Goni to be an applicable event that requires a calculation of the modelled losses to read the full article →

Typhoon Goni threatens partial loss for Philippines cat bond

The Philippines government’s World Bank facilitated IBRD CAR 123-124 catastrophe bond transaction is under threat from typhoon Goni, which may cause a partial loss of principal for investors in the cat bond if it maintains significant wind speeds as it approaches Manila. Update at the foot of this article. Super typhoon Goni, read the full article →

Cat bond gives Philippine government faster access to post-disaster funds

The recently completed first catastrophe bond for the Philippines provides its government with faster access to post-disaster funding, enabling it to respond more rapidly and effectively to support the needs of its citizens when the largest catastrophes strike. The Philippines government has made steady progress in setting up a layered, country-wide read the full article →

Taal volcanic eruption could be a quake threat to Philippines cat bond

The Taal volcano in the Philippines which began erupting yesterday poses a potential threat to the Philippines government's  IBRD CAR 123-124 catastrophe bond transaction, which would be on-risk should a major earthquake occur due to the volcano's current active state. The Taal volcano has always been considered one of the most read the full article →

Typhoon Kammuri (Tisoy) causes significant damage, but Philippines cat bond expected safe

The extent of the devastation caused by recent typhoon Kammuri's impacts on the Philippines has become clearer, as the latest report from the government shows more than 460,000 properties damaged. Typhoon Kammuri, known locally as typhoon Tisoy, made landfall in the Philippines as a strong Category 3 or 4 equivalent storm, read the full article →

Typhoon Kammuri (Tisoy) intensifies on track for Philippines landfall

Typhoon Kammuri has intensified in the last day and remains on track for a landfall in the Philippines. Known locally as typhoon Tisoy, the storm has now intensified to a Category 3 equivalent and approaches the Philippines soon after the issuance of its first catastrophe bond. Typhoon Kammuri is currently located read the full article →

Kammuri eyes Philippines days after launch of its first cat bond

Typhoon Kammuri is eyeing the Philippines with the potential to intensify into a super typhoon just days after the launch of the country's first catastrophe bond that provides it with $150 million of tropical cyclone disaster insurance protection from the capital markets. Updated Thursday Nov 28th: Kammuri has now become a read the full article →

Philippines cat bond illustrates Singapore – World Bank alignment on ILS

Singapore and the World Bank aligned their missions to collaborate on the recent landmark first catastrophe bond issuance for the Philippines, as the pair look to stimulate insurance-linked securities (ILS) issuance in Asia as a financial solution for climate resilience. The Philippines catastrophe bond, IBRD CAR 123-124 which completed last week read the full article →

Philippines “climate proofing” cat bond benefited from Singapore grant

The government of the Philippines sees the successful issuance of its first catastrophe bond, the World Bank facilitated $225 million IBRD CAR 123-124 cat bond, as an example of the country "climate proofing" itself, as well as an endorsement of its natural disaster resilience strategy. It's also emerged that the Philippines read the full article →

World Bank completes issuance of Philippines first catastrophe bond

The World Bank has now successfully completed the issuance of the first catastrophe bond to benefit the Philippines with a source of capital markets backed disaster insurance, as the $225 million IBRD CAR 123-124 cat bond transaction listed on the Singapore Exchange (SGX) this morning. The Philippines cat bond transaction has read the full article →