Magazine date:
Dec 2021 Munich 
Re and Willis Towers Watson have created the first parametric sovereign debt insurance policy. The policy is used to cover the Belize loan under The Nature Conservancy's (TNC) Blue Bonds for Ocean Conservation program.
Credit Suisse financed the debt by issuing a 364 million USD blue bond. The transaction was insured against political risk by the US International Development Finance Corporation.
For the record, Belize is a coastal country in Central America which is vulnerable to natural disasters, particularly hurricanes. The marine environment is the key to its economic prosperity.