Posts Tagged ‘Mexico’



August 4th, 2017

GC Securities Completes First Listed P&C Cat Bond Issued by World Bank International Bank for Reconstruction & Development’s Capital-at-Risk Program

Posted at 5:30 AM ET

GC Securities, a division of MMC Securities LLC, a U.S. registered broker-dealer and member FINRA/NFA/SIPC, today announced the placement of a catastrophe bond benefitting the government of Mexico’s Fund for Natural Disasters (FONDEN). The $360,000,000, three-class catastrophe bond is issued by the International Bank for Reconstruction and Development (”World Bank” or “IBRD”), and represents the first listed property and catastrophe bond issued under its Capital-at-Risk notes program.

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June 22nd, 2017

Public-Private Insurance Partnerships Bolster Latin American/Caribbean Resilience: Part IV

Posted at 1:00 AM ET

aidan-pope-headshot-sm25Aidan Pope, Managing Director

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Mexico’s risk management strategy has earned a strong reputation in the international community. The World Bank said it is “at the vanguard of initiatives aimed at the development of an integrated disaster risk management framework, including the effective use of risk financing and insurance mechanisms to manage the fiscal risk derived from disasters,” highlighting it as an example for other governments to follow (1).

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June 21st, 2017

Public-Private Insurance Partnerships Bolster Latin American/Caribbean Resilience: Part III: A Lesson in Resilience from Mexico

Posted at 1:00 AM ET

aidan-pope-headshot-sm24Aidan Pope, Managing Director

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The Mexican federal government’s risk management strategy exemplifies a modern, resilient disaster preparedness plan, including pre- and post-event approaches and public-private partnerships. Following the 1985 Mexico City earthquake, the Mexican National Civil Protection System (SINAPROC) was created, establishing a multi-level system to integrate stakeholders from the three levels of government, the private and social sectors, academia and scientific organizations. Its purpose was to provide an institutional framework for the improved coordination of emergency response. Its capacities in the areas of risk assessment, early warning, preparedness and disaster risk financing were developed. As SINAPROC evolved, it added risk reduction practices to shift from a reactive to a preventative, holistic and integrated risk management plan.

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March 30th, 2017

Public-Private Insurance Partnerships Bolster Latin American/Caribbean Resilience: Part IV

Posted at 1:00 AM ET

aidan-pope-headshot-sm25Aidan Pope, Managing Director

Contact

Mexico’s risk management strategy has earned a strong reputation in the international community. The World Bank said it is “at the vanguard of initiatives aimed at the development of an integrated disaster risk management framework, including the effective use of risk financing and insurance mechanisms to manage the fiscal risk derived from disasters,” highlighting it as an example for other governments to follow (1).

Continue reading…

March 29th, 2017

Public-Private Insurance Partnerships Bolster Latin American/Caribbean Resilience: Part III: A Lesson in Resilience from Mexico

Posted at 1:00 AM ET

aidan-pope-headshot-sm24Aidan Pope, Managing Director

Contact

The Mexican federal government’s risk management strategy exemplifies a modern, resilient disaster preparedness plan, including pre- and post-event approaches and public-private partnerships. Following the 1985 Mexico City earthquake, the Mexican National Civil Protection System (SINAPROC) was created, establishing a multi-level system to integrate stakeholders from the three levels of government, the private and social sectors, academia and scientific organizations. Its purpose was to provide an institutional framework for the improved coordination of emergency response. Its capacities in the areas of risk assessment, early warning, preparedness and disaster risk financing were developed. As SINAPROC evolved, it added risk reduction practices to shift from a reactive to a preventative, holistic and integrated risk management plan.

Continue reading…

January 19th, 2017

Public Sector Risk Financing Perspectives in Latin America: Part II

Posted at 1:00 AM ET

aidan-pope-headshot-sm21Aidan Pope, Managing Director

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In response to the continued need for post-event budget allocation, the Mexican federal government established the Fund for Natural Disasters (FONDEN) in 1996 (1). It is a financial vehicle by which the federal government provides pre-event funding from tax revenues for post-disaster response and reconstruction - it has been critical in providing the government with access to international risk transfer schemes.

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January 18th, 2017

Public Sector Risk Financing Perspectives in Latin America: Part I

Posted at 1:00 AM ET

aidan-pope-headshot-smAidan Pope, Managing Director

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Globally, three of the ten most costly natural disaster events in the last 35 years occurred in total or in part in the Latin America/Caribbean region (1). As the region’s population, urbanization and gross domestic product concentration continues to grow, the effects of climate volatility are likely to further increase the impact of natural perils losses on economies that are already struggling. We are just now assessing the losses from Hurricane Matthew in the Caribbean. The ultimate costs of these catastrophe event responses causes a strain on public balance sheets and an increase in public debt, ultimately burdening taxpayers.

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October 11th, 2016

GC Capital Ideas Top CAT-i Stories for the Third Quarter, 2016

Posted at 1:00 AM ET

Here we review the top five CAT-i stories covering July through September of 2016.

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September 7th, 2016

Hurricane Newton

Posted at 1:37 PM ET

hurricane-newton-smHurricane Newton made landfall near Cabo San Lucas, Mexico early Tuesday morning, with maximum sustained winds of 90 mph according to National Hurricane Center (NHC) advisories. Media reports indicate at least two dead and three missing. The hurricane brought tropical storm to hurricane conditions for affected areas, with reports of downed trees and power lines and some light structural damage. Reported impacts are not as severe as those of Hurricane Odile, which struck the area in 2014 as a major hurricane.

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August 8th, 2016

Hurricane Earl

Posted at 1:34 PM ET

hurricane-earl-8-8-16-smHurricane Earl made landfall in Belize last Thursday, with final landfall as a tropical storm in Southeast Mexico over the weekend. Impacts have been rendered in Belize as a result of strong wind gusts, an impactful storm surge and heavy rainfall. Some damage to property and infrastructure has been reported, although the full scope and severity remain unclear. Significant rainfall has also affected areas of Southeast Mexico, with reports of destructive flooding, landslides and property damage. At least 42 have been reported dead in Southeast Mexico and another 2,000 have been displaced, according to media reports. The full extent of impacts from this event remains unclear as recovery and assessment efforts are still underway. Our first thoughts and concerns are with those lost and directly affected by this event.

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