Acapulco quake will not trigger IBRD Mexico cat bond
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Acapulco quake will not trigger IBRD Mexico cat bond

Liz Bury
08 September 2021
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Acapulco, Mexico. 8th Sep, 2021. Damages are seen after an earthquake in Acapulco, state of Guerrero, Mexico, on Sept. 8, 2021. At least one person was killed after a 7.1 magnitude earthquake hit the southern Mexican coastal city of Acapulco in Guerrero s
Photo: Alamy

A magnitude 7 earthquake that hit 17.7 km northeast of Acapulco in Mexico will not have triggered the World Bank Mexico cat bond of 2020, sources suggested.

The bond’s Class A and B notes are worth $235mn of combined limit cover earthquake risk, with the parametric, per-occurrence trigger dependent on the earthquake’s location – down to half a degree of latitude and longitude – and its...

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