Cat bond market helps CEA reduce its reinsurance attachment point and costs
Over the last year the California Earthquake Authority (CEA) has benefited from strong execution in the catastrophe bond market to lower both its reinsurance attachment point and costs associated with risk transfer. With now three catastrophe bonds sponsored so far in 2025, the California Earthquake Authority (CEA) has steadily increased the capital markets share of […]
ADB approves plan to issue catastrophe bond for Kyrgyz Republic and Tajikistan
The Asian Development Bank (ADB) has approved plans to issue a pilot parametric catastrophe bond for Kyrgyz Republic and Tajikistan which could be as much as $100 million in size, protecting both countries against earthquake and flood risks. This initiative accompanies ADB’s approval of a $56.4 million program aimed at strengthening both countries’ capacity to […]
Swiss Re urges bolder investment in Insurance-Linked Loans to strengthen sovereign disaster resilience
Swiss Re Public Sector Solutions, the arm of the global reinsurer that works with governments, international institutions, and the broader public sector on risk transfer solutions, has suggested now is the time to invest more boldly in insurance-linked loans. Swiss Re says insurance-linked loans, alongside parametric insurance, catastrophe bonds, and contingent credit lines, are an […]
ILS and cat bonds will help close India’s protection gap: FAIR panel
In a recent panel discussing how reinsurance strategies can expand insurance access in India, Mahipal Reddy, Executive Director, International Financial Services Centres Authority (IFSCA), GIFT City, Gujarat, suggested that the analytical framework already set in place for catastrophe bonds and insurance-linked securities (ILS) will drive the popularity of parametric solutions. At the 29th Federation of […]
G20 Ministers call for scaling up of parametric insurance, risk pools, catastrophe bonds
Ministers from the G20, or Group of Twenty forum for global economic cooperation, recently came together in South Africa for annual meetings and the Disaster Risk Reduction Working Group advocated for the enhancement of risk transfer solutions, particularly including use of parametric insurance, risk pools, and catastrophe bonds. Recognising their shared commitment to disaster risk […]
Premier Ebanks urges Cayman Islands to consider cat bonds after Hurricane Melissa
Reflecting on Hurricane Melissa’s impacts on Jamaica, Hon. Andre Ebanks, MP, Premier & Minister for Financial Services and Commerce, of the Cayman Islands, believes that the British Overseas Territory should also look to financial instruments such as catastrophe bonds for future protection. We reported last week that the World Bank had confirmed that following the events […]
Monetary Authority of Singapore details non-APAC risk features of refreshed ILS grant scheme
The Monetary Authority of Singapore (MAS) has now confirmed details of the refresh and extension of its insurance-linked securities grant scheme, with grants now available to cover some of the upfront costs of issuance for catastrophe bonds covering risks outside of the Asia Pacific region, as well as for other ILS arrangements. The refresh and […]
Bloomberg: Cat Bond Holders Digest ‘Black Swan’ Event Triggered by Melissa
A rare thing is about to happen in the $55 billion market for catastrophe bonds: a trigger event will wipe out 100% of a bond’s principal. Jamaica’s $150 million cat bond has been the subject of controversy since it failed to trigger last year after Hurricane Beryl destroyed large parts of the island. The development sparked calls for a […]
World Bank Press Release: Hurricane Melissa triggers 100% payout of $150 million World Bank Catastrophe Bond for Jamaica
Pre-agreed parametric triggers reached for full payout based on storm’s central pressure and path WASHINGTON, NOVEMBER 7, 2025 — Following Hurricane Melissa, the Government of Jamaica will receive a full payout of $150 million under its catastrophe insurance coverage with the World Bank, backed by a catastrophe bond issued in 2024 by the World Bank (International […]
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. 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 […]