Insight and Intelligence on the London & International Insurance Markets 18 Mar 2018

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Mexican cat bond escapes earthquake trigger

  • Sofia Geraghty 19 February 2018
  • A 7.2-magnitude earthquake which hit Mexico on Friday (16 February) will not trigger a payout from the World Bank's new CAR 118-119 cat bond, sister publication Trading Risk reported.

    While the earthquake was in the area covered by the cat bond, the magnitude was too low to trigger the cover.

    The earthquake hit Mexico's southern Pacific coast on Friday at 17:39 local time, the New York Times reported.

    Dozens of houses were reported to be damaged in the town of...

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