World Bank to Quintuple Catastrophe Bond Issuance Amid Surging Demand

World Bank plans to increase catastrophe bonds outstanding to $5B over next 5 years, up from $1B currently

Catastrophe bonds seeing major surge in popularity and issuance as returns outpace other debt markets

World Bank looking to expand catastrophe bonds to cover wider range of natural disasters beyond hurricanes, pandemics, earthquakes

Creating climate risk financial products key to unlocking private finance needed to protect vulnerable nations

Investors attracted by high returns and diversification benefits of catastrophe bonds, useful for ESG mandates