Printed from

Philippines’ $97.5 million outstanding cat bond principal could be at risk

Posted On: Oct. 14, 2022 9:34 AM CST

Alternative risk transfer

The World Bank-issued catastrophe bond notes for the Philippines have been marked down to almost zero in the secondary market implying that the $97.5 million in catastrophe bond principal outstanding could be exposed to the impacts of the recent Super Typhoon Noru, Artemis reported. The Philippines’ government has recently requested a damage assessment of the Super Typhoon Noru to determine if it triggered the country’s catastrophe bond.