Coface says it is one of 11 private reinsurers of the US DFC’s US$656 million political-risk insurance on the 2023 Galápagos Marine Bond, committed for 10 years [MS].
Right of reply
This page describes Coface only through its published statements and the public records of the deals listed. Coface has not yet been invited to comment. Responses and corrections will be recorded here with their date. On register pages, [MS] marks a claim that rests only on the institution’s own statement or on statements by parties to the same deal.
In the register
The register follows instruments whose terms depend on a verified ecological outcome, the broad family of the performance-based bond. The register index explains its tiers, roles and claim tags.
| Deal | Year | Family | Role | Amount | Claim |
|---|---|---|---|---|---|
| Galápagos Marine Bond (Ecuador) | 2023 | Debt-for-nature conversion | Reinsurer of US DFC political-risk cover | Not disclosed | [MS] |
The other ten reinsurers on the Galápagos panel are not named in any source found. The register places Coface in Tier 1 as a credit insurer that operates internationally.
What it has said
Coface says its participation helps Ecuador work toward 30% marine protection by 2030, reduce its debt, protect Galápagos biodiversity and mobilize private capital [MS].
Related
- Nature Performance Bond Investor Register
- US International Development Finance Corporation
- Credit Suisse
- Legal & General
- Inter-American Development Bank
References
- Coface, reinsurance in the largest debt-for-nature deal
- Pew Bertarelli Ocean Legacy, Galápagos brief
- G-24, Sovereign Debt Swaps working paper (2026)
Provenance
Drafted on 15 October 2026 from the research brief Nature performance bond investors.md, compiled the same day from five research strands: outcome-linked and sustainability-linked bonds, environmental impact bonds, debt-for-nature conversions, insurers and reinsurers, and the largest asset managers with their regulatory context. Claim tags follow the brief, which never upgraded a claim without a source and lowered to [MS] any claim a research note had graded [IC] on the strength of a company’s own release. The headquarters country in based_in comes from general knowledge unless a deal record states it, and is to be confirmed. The brief’s search had limits: fund holdings filings, municipal bond disclosures and the Oxford INDIGO and Brookings impact bond databases were not searched, so a deal missing from this page may exist.