Finance Minister Dr Nigel Clarke
The Government of Jamaica received a payment of $500 million in December 2020 in respect of the 2020/21 Excess Rainfall policy, held with the Caribbean Catastrophe Risk Insurance Facility (CCRIF) Segregated Portfolio Company, Finance Minister Dr Nigel Clarke has announced.
The pay-out was related to the intense and persistent rainfall associated with Tropical Cyclones Zeta and Eta, in October and November respectively, which caused loss of lives and significant damage, particularly to the country’s road network.
Jamaica’s subscription to CCRIF forms part of the GOJ’s larger, multi-year framework developed to manage the financing of disaster risk.
NCB Capital Markets has received an application to list two securities, valued at $7 billion, on the new Private Market platform of the Jamaica Stock Exchange (JSE).
The Private Market portal provides a platform for listing and trading of private securities. It also seeks to enhance market participation and greater efficiency within the securities market, the JSE said.
Currently, private securities, registered with the Financial Services Commission (FSC), are traded “Over the Counter” (OTC) between licensed brokers.
Speaking at the Private Markets platform launch, Finance Minister Dr Nigel Clarke said the private assets market between 2017 and 2020 grew by 100 per cent, from approximately $100 billion to $200 billion. By comparison, loan growth has returned 16 per cent to 35 per cent growth in the same period.