Philippines to receive $52.5mn cat bond payout after Typhoon Odette
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Philippines to receive $52.5mn cat bond payout after Typhoon Odette

Fiona Robertson
25 January 2022
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The Philippines will receive a $52.5mn payout under the country’s 2019 World Bank cat bond after Typhoon Odette/Rai struck in December last year.

Local media reported statements from the Philippines Department of Finance today confirming the partial payout.

The $225mn World Bank cat bond protecting the Philippines was split into two layers of which $150mn provided windstorm cover for a spread of 565...

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Topics

News Catastrophe losses Weather Catastrophe bonds
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