The World Bank announced a significant expansion of the use of catastrophe bonds, reinsurance and instruments such as parametric risk transfer for countries exposed to large-scale disasters, with an ambition to embed catastrophe insurance and risk transfer instruments more deeply into its financing operations.
The World Bank’s position on the use of disaster insurance and risk transfer backed by private capital markets and reinsurance capacity has been building over the last few years.
Artemis readers and conference attendees know that the Bank’s senior staff members remain committed to the use of insurance-linked securities (ILS) as an effective way to mobilise private capital to support the disaster insurance needs of member countries.
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