The Government of Jamaica is back in the catastrophe bond market again with the support of the World Bank, targeting $150 million of parametric named storm and hurricane protection from an IBRD CAR Jamaica 2026 issuance, designed to replace its coverage that was triggered by hurricane Melissa, Artemis has learned from sources.
This will be the third catastrophe bond sponsored by Jamaica, as the country had first secured parametric hurricane disaster risk protection from the capital markets through the $185 million IBRD CAR 130 cat bond in 2021.
Jamaica’s government followed that deal up with a $150 million renewal through the IBRD CAR Jamaica 2024 issuance in May 2024, again with the support of the World Bank for both of those issuances.
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