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Mexico launches $290-million cat bond for earthquakes, storms

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Mexico has launched a new catastrophe bond seeking a source of reinsurance risk transfer for its Fund for Natural Disasters in a $290 million deal, Artemis.bm reports. The cat bond is being issued by the World Bank Group's development bank the International Bank for Reconstruction and Development. The cat bond will provide the fund with parametric insurance protection against losses due to earthquakes and named storms on both the Pacific and Atlantic coasts.

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