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Twelve Capital agrees on risk of Philippines cat bond default from typhoon Noru

Twelve Capital, the insurance-linked securities (ILS) and reinsurance linked fund manager, agrees with other opinions that recent super typhoon Noru may cause a default of the Philippine government's World Bank facilitated IBRD CAR 123-124 catastrophe bond. We reported at the weekend that the Philippines World Bank issued catastrophe bond should be read the full article →

Philippines cat bond “likely to default” on typhoon Noru impact: Plenum

The Philippines World Bank facilitated catastrophe bond is deemed "likely to default" after the landfall and impacts of super typhoon Noru, according to investment fund manager Plenum Investments. We reported yesterday that the Philippines World Bank issued IBRD CAR 123-124 catastrophe bond should be considered at-risk, after typhoon Noru (Karding as read the full article →

Super typhoon Noru a potential threat to Philippines catastrophe bond

In the space of just 24 hours, typhoon Noru has explosively intensified into super typhoon Noru as it approaches the Philippines and now packing sustained winds of more than 150 mph the storm is a potential threat to the countries World Bank facilitated catastrophe bond. Meteorologists have been surprised by super read the full article →

No payout for Philippines World Bank cat bond after Megi (Agaton) rains

The calculation agent for the Philippines government's World Bank issued IBRD CAR 123-124 catastrophe bond has now completed its full analysis on the impacts of tropical storm Megi (locally known as storm Agaton), finding that neither the wind nor rain parameters have triggered any payout from the bond. We previously reported read the full article →

No Philippines cat bond pay out for storm Megi (Agaton) winds

The calculation agent has now found that holders of the Philippines governments World Bank issued IBRD CAR 123-124 catastrophe bond do not face any loss of principal following the wind-related impacts of tropical storm Megi (locally known as storm Agaton), Artemis has learned. Tropical storm Megi (Agaton) never made typhoon status read the full article →

No additional Philippines cat bond pay out for typhoon Rai’s rains

Having already been triggered and paid out US $52.5 million, we've now learned the Philippines governments World Bank issued IBRD CAR 123-124 catastrophe bond will not face any additional loss of principal because of the rainfall from super typhoon Rai (locally known as Odette). We reported back in January that the read the full article →

Jamaica cat bond may grow, or expand to cover Caribbean: World Bank MD

When a renewal comes up for consideration for the first catastrophe bond transaction to be sponsored by Jamaica, there is already some discussion regarding the need for a larger cover to be in place, or for it to be expanded to cover additional Caribbean island nations, a World Bank Managing read the full article →

Philippines seeks cat bond event calculation for storm Megi (Agaton)

The Bureau of the Treasury of the Republic of the Philippines has issued a notice to the calculation agent of the World Bank issued IBRD CAR 123-124 catastrophe bond after the impacts of recent tropical storm Megi (locally known as storm Agaton), Artemis has learned. It's the second calculation request the read the full article →

Philippines cat bond payout a “tangible result”, says Finance Secretary

The triggering and impending $52.5 million payout of the Philippines catastrophe bond by recent typhoon Rai (known in the Philippines as Odette), demonstrates a "tangible result" of the country's disaster risk financing work, according to its Finance Secretary. Artemis was first to report yesterday that the Philippines government will make a read the full article →

Philippines cat bond triggers on typhoon Rai (Odette) winds, $52.5m payout due

The Philippines government will make a recovery under the terms of its World Bank issued IBRD CAR 123-124 catastrophe bond, as the event calculation process has now run and super typhoon Rai (locally known as Odette) has breached the parametric trigger for wind, Artemis has learned. As we reported back on read the full article →