Grace’s Mexican landfall too weak to trigger World Bank cat bond
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Grace’s Mexican landfall too weak to trigger World Bank cat bond

Fiona Robertson
19 August 2021
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Hurricane Grace 3pm UK Thurs.jpg

Hurricane Grace made landfall near Tulum, Mexico, as a Category 1 hurricane but was too weak to trigger a World Bank cat bond covering Mexican hurricane risks.

The storm’s central pressure registered 986mb at landfall, according to the initial National Hurricane Center (NHC) report.

As noted previously by Trading Risk, under the World Bank’s $125mn Mexico Atlantic hurricane-exposed cat bond of 2020, pressure readings on landfall must...

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