Pacific Alliance looks to Mexican example for joint catastrophe bond issue

Pacific Alliance looks to Mexican example for joint catastrophe bond issue

Latin Americans have earthquakes on their mind. Two shakes weeks apart in September caused extensive damage in Mexico, and put geological risks firmly at the forefront of concerns in other vulnerable countries around the region. Peru, for example, is now accelerating efforts to prepare for an earthquake, which many locals believe is overdue. The country has joined with its Pacific Alliance peers – Chile, Colombia and Mexico – to issue a joint capital markets instrument to provide financial cover if a major earthquake hits. They are hammering out the details and hope to bring a deal to market as soon as early 2018. As the sovereign issuers consider their disaster coverage, they are looking at

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