Mexican disaster fund returns for cat bond cover

The Mexican government's natural disaster fund Fonden is
working with the World Bank to renew its cat bond cover after its
previous deal paid out $50mn linked to a 2015 hurricane, sister
publication Trading Risk reported.
The parties are seeking to raise $290mn of reinsurance from a
new multi-peril cat bond that is being sponsored through the World
Bank's Capital-at-Risk Notes programme, which has previously
been used to issue a Caribbean cat bond as well as this year's
pandemic bond....