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When Jamaica first ventured into the catastrophe bond market it was with the support of donor funding that paid the premiums for the 2021 issuance, but
News and Press Release in English on Malawi about Agriculture, Disaster Management, Drought and more; published on 18 Apr 2023 by World Bank
Share Washington – The World Bank (International Bank for Reconstruction and Development, or IBRD) priced a catastrophe bond that will provide the Government of Jamaica with financial protection of up to US $185 million against losses from named storms for three Atlantic tropical cyclone seasons ending in December 2023. The government of Jamaica is the first government in the Caribbean region, and the first of any small island state, to independently sponsor a catastrophe bond, also known as a cat bond. Jamaica was one of the sixteen countries in the Caribbean Catastrophe Risk Insurance Fac...
Caribbean News Global July 20, 2021 WASHINGTON, USA – The World Bank (International Bank for Reconstruction and Development, or IBRD) priced a catastrophe bond that will provide the government of Jamaica with financial protection of up to US $185 million against losses from named storms for three Atlantic tropical cyclone seasons ending in December 2023. Jingdong Hua, vice president and treasurer, World Bank, said, “We are pleased to be able to support this transaction and bring together so many different partners all committed to strengthening Jamaica’s resilience to tr...
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