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World Bank to review Peru cat bond payout decision within 20 days

Fault line in Peru

A Peruvian official said that U.S.-based The World Bank Group will review whether its catastrophe bond will make a payout for damage related to a massive earthquake on May 26, reports. Carlos Oliva, Peru's Minister for Finance and Economy, said that the parameters for the cat bond to be triggered include the quake's intensity, location and depth among others. Payouts for the 8.0-magnitude quake could total 30% of the $200-million cat bond.

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