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 […]
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 […]
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 […]
Moody’s finalises, publishes new catastrophe bond and ILS rating methodology
Moody’s Ratings has now finalised and published its awaited new methodology for rating insurance-linked securities (ILS) such as catastrophe bonds. Moody’s Ratings had issued a discussion paper on insurance-linked securities (ILS) and cat bonds back in March 2025 and put out a call for feedback from market participants, to help clarify its understanding of ILS market dynamics […]
KKR sidecar assets and fees show importance of third-party capitalised reinsurance strategy
For KKR, with committed capital managed in life and annuity reinsurance sidecar structures under Global Atlantic rising rapidly for the investment giant in recent years, these third-party capitalised reinsurance strategies are an increasingly important component of the firm’s results. KKR has long explained the benefits to investors of insurance and reinsurance as an asset class, […]
UK becoming more competitive jurisdiction for insurance-linked investment: PRA’s Khan
With implemented and planned reforms to its insurance-linked securities regulatory regime, the United Kingdom is “becoming a more competitive jurisdiction for insurance-linked investment” according to Shoib Khan, Director, Insurance Supervision at the Prudential Regulation Authority (PRA) of the Bank of England. Speaking at a recent event in London, Khan explained that the updates planned and […]
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 […]