The World Bank announced that Jamaica's catastrophe bond will payout in full for hurricane Melissa
Jamaica to receive full $150m cat bond payout | | | Jamaica to receive full $150m payout from parametric cat bond after Hurricane Melissa: World Bank  The World Bank has announced today that following the events of Hurricane Melissa, the Government of Jamaica will receive a full 100% payout of its $150 million IBRD CAR Jamaica 2024 parametric catastrophe bond. "Analysis carried out by third-party calculation agent, AIR Worldwide Corporation, concluded that Hurricane Melissa reached pre-agreed parametric triggers qualifying for a full redemption of the World Bank Catastrophe Bond, which offers Jamaica financial protection against specified natural disasters. The analysis was based on the storm's central pressure and path, as reported by the National Hurricane Center," the World Bank said in a statement. Read the full story. Other articles: | | | | | | Please share this with colleagues and friends if you think they would like to receive it.
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