February 8, 2018 / 3:07 PM / 9 months ago

Mexico renews catastrophe bond until 2020 for up to $260 mln

MEXICO CITY, Feb 8 (Reuters) - Mexico’s finance ministry said on Thursday that it has renewed with the World Bank a catastrophe bond for earthquakes through February 2020 for coverage up to $260 million.

Mexico received a $150 million payout from a catastrophe bond in mid-November after a devastating Sept. 7 earthquake.

Resources from the bond would boost Mexico’s Natural Disaster Fund (Fonden), which is used for emergency situations and reconstruction activities following natural disasters. (Reporting by Anthony Esposito Editing by Chizu Nomiyama)

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