The Government of Jamaica has raised the target size for its third catastrophe bond, now aiming to secure $200 million of parametric named storm and hurricane insurance protection from the World Bank facilitated IBRD CAR Jamaica 2026 issuance, market sources have told Artemis.
Jamaica returned for its third catastrophe bond sponsorship at the end of April, initially targeting $150 million of parametric named storm and hurricane protection.
Recall that Jamaica’s second catastrophe bond had been exhausted after paying out in full due to the devastating impacts of hurricane Melissa in October 2025, which triggered the notes and Jamaica’s government benefited from the $150 million payout within weeks, to aid in the countries recovery.
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