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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 →

Philippines cat bond will be first to list on Singapore Stock Exchange

The inaugural catastrophe bond to benefit the Philippines will also set another ILS market first, as the $225 million of notes issued through the World Bank's IBRD CAR 123-124 cat bond transaction will be listed on the Singapore Stock Exchange (SGX). We understand that this will be the first listing of read the full article →

Pricing fixed for World Bank’s first Philippines cat bond

The first catastrophe bond ever issued to cover natural peril exposures in the Philippines has now been priced, as the landmark transaction from the World Bank gets nearer to completion. The IBRD CAR 123-124 cat bond transaction is set to provide the government of the Philippines with a $225 million source read the full article →

World Bank’s cat bond for the Philippines not upsized, set at $225m

The World Bank supported catastrophe bond that is in the market to secure risk transfer and disaster insurance protection for the Philippines has not upsized, with the IBRD CAR 123-124 transaction still aiming for $225 million. At the same time, the catastrophe bond tranches have been moved to use the International read the full article →

Philippines cat bond launched at $225m by World Bank IBRD

A catastrophe bond (IBRD CAR 123-124) has been launched to the market seeking to secure risk transfer and disaster insurance protection for the Philippines, with the World Bank supporting the country in securing a capital markets backed source of capacity for catastrophe loss events. A Philippines catastrophe bond has been in read the full article →

World Bank links catastrophe & pandemic risk finance for the Maldives

The World Bank has delivered the first of a new combined catastrophe and pandemic contingent risk financing solution to the Maldives, leveraging existing structures to create something responsive and that works similar to insurance for the archipelagic nation. The Maldives is highly exposed to natural hazards and climate variability, and is read the full article →

World Bank to expand parametric risk transfer for Pacific Islands

In supporting the Pacific Island nations on their road to resilience, the World Bank aims to expand the availability of parametric disaster insurance protection, partly through the use of private capital, while expanding the range of parametric insurance products available in the region as well. Recently, the World Bank, alongside German read the full article →

Global Risk Financing Facility (GRIF) launched with World Bank support

The World Bank, alongside German and United Kingdom governments, have announced a new initiative to help vulnerable countries manage climate change and natural disaster related shocks, with the launch of the US $145 million Global Risk Financing Facility (GRiF). Announced at the World Bank and IMF Annual Meetings in Bali in read the full article →

Philippines gets $500m for typhoon Mangkhut from World Bank CAT DDO 2

The Philippines is to benefit from a payout of almost $500 million to assist with its recovery from recent typhoon Mangkhut, as the countries catastrophe contingent line of credit provided by the World Bank has been triggered. The Philippines entered into a $500 million arrangement with the World Bank to support read the full article →

Romania seeks World Bank Catastrophe Deferred Drawdown Option (Cat DDO)

A project is now underway that may see the country of Romania as the next in line to benefit from a Catastrophe Deferred Drawdown Option (Cat DDO) instrument from the World Bank, as the government of the country seeks to enhance its disaster risk financing support. The Catastrophe Deferred Drawdown Option read the full article →