world bank


World Bank & its members see real benefits of ILS: Bennett, ILS NYC 2021

The World Bank sees the insurance-linked securities (ILS) sector providing significant benefits for member country governments, but elements of the catastrophe bond structure could be adapted to make it an even more attractive tool for sovereign disaster risk financing. This is according to Michael Bennett, Head of Derivatives & Structured Finance, read the full article →

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 →

World Bank CAT DDO’s triggered by coronavirus, disburse almost $900m

A number of countries have benefited from disbursements under World Bank provided catastrophe contingent lines of credit after the Covid-19 coronavirus pandemic triggered their Catastrophe-Deferred Drawdown Options (CAT-DDO's). The Catastrophe-Deferred Drawdown Option (CAT-DDO) is a financing instrument that acts a little like a parametric catastrophe bond, in that they provide a 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 →

World Bank helps Vanuatu & Grenada to catastrophe contingent financing

The World Bank has helped two more countries join those benefiting from a source of catastrophe contingent disaster risk financing, as both Vanuatu and Grenada become the latest to receive a Catastrophe Deferred Drawdown Option (Cat DDO) arrangement. The World Bank continues to deliver these catastrophe contingent risk financing solutions to 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 →

Madagascar & Morocco get World Bank Catastrophe Deferred Drawdown Options

The African countries of Madagascar and Morocco are the latest to benefit from a Catastrophe Deferred Drawdown Option (Cat DDO) instrument issued by the World Bank, as further steps are taken to make them more resilience to natural disasters and climate related risks. The Catastrophe Deferred Drawdown Option (Cat DDO) has 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 →