Japan earthquake may drive aggregate loss incursion but no immediate cat bond risk: Plenum

02 January 2024

Thousands of people have been left homeless and major damage has been inflicted on homes and infrastructure following a major earthquake in western Japan but ILS manager Plenum said there was not expected to be an immediate impact on the cat bond market.

A magnitude 7.6 earthquake struck on New Year’s Day on the island of Honshu on Japan’s western coast.

Plenum said earthquake was a minor component of the Japanese cat bond market, and the impacted region was far from Japan’s major...

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