Puerto Rico gets $282m parametric cover. Says cat bond “opened door” to capital market
The Government of Puerto Rico’s Autoridad de Asesoría Financiera y Agencia Fiscal (Fiscal Agency and Financial Advisory Authority) has secured $282 million of parametric disaster insurance cover, with the recent $85 million Puerto Rico Parametric Re Ltd. (Series 2024-1) catastrophe bond seen as a key component that opens the door to