An earthquake of magnitude 6.5 has occurred in the Apennine mountains on Sunday, 30 October at 07:40 local time. The location is northeast of Rome and southeast of Perugia, near the small town of Norcia. The location is further to the north to Amatrice, where an earthquake of magnitude 6.2 had occurred on 24 August. Since the main shock on Sunday morning, a number of aftershocks with magnitude 4 and above have occurred.
Most damage seems to be to residential buildings. The only Cat Bond exposed to Italy earthquake is Azzurro, which is not affected by today’s events according to our modelling analysis. The potential impact on Private ILS transactions is being assessed. Twelve is monitoring the situation very closely.
Monday, 31 October 2016