As anticipated, the Government of Mexico has returned to secure Pacific named storm protection from another new tranche of World Bank and IBRD facilitated catastrophe bond notes, as the country looks to finalise its latest capital markets source of parametric disaster insurance protection.
In recent week’s, Mexico has secured a $420 million source of protection against earthquakes and Atlantic hurricanes through its new World Bank facilitated IBRD CAR Mexico 2024 catastrophe bond transaction.
As Artemis has been reporting, due to the ongoing process of making a recovery from its previous cat bond after hurricane Otis, the Mexican government has elected to delay issuance of a Pacific hurricane tranche this time around.
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