While the World Bank has been a key driving force in the catastrophe bond market for many years, of late its senior leadership has been relatively quiet about the use of cat bonds as a key disaster risk financing and risk transfer option for its sovereign client-base.
So it’s pleasing to note that catastrophe bonds have had a specific mention within recent speeches by the CFO and by the President of the World Bank, with each putting cat bonds in the spotlight as an effective tool that remains available to the sovereign actors the Bank works with.
Over the last couple of years mentions of disaster risk financing, disaster risk transfer and catastrophe bonds have become increasingly infrequent, especially from the Bank’s top leadership team.
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