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Mount Merapi eruption may activate Danish Red Cross cat bond

Posted On: Mar. 14, 2023 9:57 AM CST

Indonesia’s Mount Merapi volcano erupted on March 11, spewing gas and lava into the sky and sparking fears that it may activate the Danish Red Cross sponsored volcano catastrophe bond, Dunant Re IC Ltd (Series 2021-1), Artemis reported. The plume height resulting from the eruption is not high enough to activate the cat bond yet, but it will be monitored closely for any increase in threat to the cat bond.