The World Bank, a major issuer of catastrophe bonds, prepares to ratchet up its offering from $1 billion today to $5 billion in the coming five years. Credit: bilanol/Adobe Stock
(Bloomberg) — The market for catastrophe bonds is one of this year's best-performing debt classes. It's also about to see a significant increase in sales as the World Bank, a major issuer, prepares to ratchet up its offering.
The lender plans to increase the amount it has outstanding in so-called cat bonds to $5 billion over the next five years, compared with $1 billion today. That represents a substantial bump for an overall market that's currently worth about $40 billion in total.
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