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Peru quake likely to trigger World Bank's cat bond

Peruvian earthquake

An 8.0-magnitude earthquake that struck Peru on May 26 could trigger U.S.-based The World Bank Group's $200-million catastrophe bond and cause a 30% – or $60 million – loss of principal, report. The bond is part of the Pacific Alliance parametric cat bond program covering Chile, Colombia, Mexico, and Peru. The quake damaged several houses and commercial buildings across Peru.

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