Super Typhoon won’t trigger cat bond

The calculation agent for the Philippines catastrophe bond has said that the recent Super Typhoon Noru was not a trigger event and will not erode the principal amount of the catastrophe bond, Artemis reported. The World Bank-issued catastrophe bond was marked down to almost zero implying that the $97.5 million in catastrophe bond principal outstanding could be exposed to the impacts of the typhoon. 

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