June 27, 2024
Parametric risk coverage to protect critical infrastructure in Quintana Roo, Mexico

With the Atlantic hurricane season underway, the Natural Disaster Fund (NDF), which is managed by the Global Parametrics team (part of the CelsiusPro Group), has provided risk capacity to support the renewal of the Mexican state of Quintana Roo's parametric tropical cyclone coverage.

The transaction offers the state government parametric coverage for emergency expenditure and early reconstruction in the aftermath of a tropical cyclone.

The government of Quintana Roo will use any payouts flowing from this coverage to support costs and losses incurred in critical infrastructure as a consequence of a tropical cyclone impacting highways, water supply, health services and schools as well as other eligible emergency response costs.

The NDF, managed by our Global Parametrics team, is a public-private partnership with capital committed by the UK government’s Foreign, Commonwealth and Development Office, and Germany’s development bank KfW on behalf of the German Federal Ministry for Economic Cooperation and Development (BMZ). Hannover Re offers matching reinsurance capacity to support NDF transactions.

Visit the NDF website: www.naturaldisasterfund.com