The first catastrophe bond to benefit the Caribbean island nation of Jamaica has now been launched to investors, with the IBRD CAR 130 transaction, that is being issued via the World Bank, set to provide the Government with a $175 million or greater source of named tropical storm and hurricane disaster insurance protection.
We learned recently that important grant agreements had been signed and as a result the first catastrophe bond for Jamaica was imminent and could come to market as early as this week.
That has proved accurate and now the World Bank’s cat bond for Jamaica is in the market and details are with the insurance-linked securities (ILS) investment community, as well as other institutional investors we’d expect.
FULL ORIGINAL PUBLICATION HERE
