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.
Recall that the World Bank facilitated and supported the issuance of Jamaica’s $150 million IBRD CAR Jamaica 2024 parametric catastrophe bond.
As we reported on November 1st, just days after Melissa made landfall in Jamaica, the World Bank indicated that a payout of the country’s catastrophe bond was likely.
FULL ORIGINAL PUBLICATION HERE