Category-3 Hurricane Roslyn fails to trigger Mexico’s cat bond

Swiss insurance-linked securities manager Twelve Capital AG said that Hurricane Roslyn, which made landfall on Mexico’s Pacific coastline as a Category-3 hurricane on Oct. 23, did not trigger Mexico’s $485 million catastrophe bond, Artemis reported. The strong hurricane, which caused floods, landslides and property damages, did not have the required minimum central pressure to trigger the bond that includes a tranche of notes for parametric disaster insurance protection against Pacific hurricane events.