BMS has warned that the total economic impact of Hurricane Melissa could reach 30–250% of Jamaica’s GDP, potentially triggering a deep recession, widespread unemployment, a sharp decline in tourism, and severe strain on local banks and insurers, placing heavy pressure on public borrowing to fund recovery efforts. After making landfall
As the catastrophe bond market awaits an official determination on the potential payout of Jamaica’s $150 million IBRD CAR Jamaica 2024 parametric cat bond after hurricane Melissa, a representative of one of the deal’s structuring agents has said that early signs are that the cat bond structure is “doing what it was
The Bermuda Monetary Authority (BMA), Bermuda’s integrated regulator and supervisor for the financial services sector, continues to drive innovation in the Insurance Linked Securities (ILS) market. The BMA highlights that Bermuda’s ILS market is built on a foundation of prudence and practicality, underpinned by a regulatory framework designed to respond
The global insurance and reinsurance industry is facing losses in the billions of dollars after major hurricane Melissa’s devastating landfall and passage across Jamaica, while the country’s $150 million IBRD CAR Jamaica 2024 parametric catastrophe bond is likely to face a full loss, ILS investment manager Twelve Securis has said. In a
Major hurricane Melissa has intensified further to sustained winds of 185 mph and its minimum central pressure has now deepened to 892mb, which with the storm’s eye now well into the parametric boxes of Jamaica’s $150 million IBRD CAR Jamaica 2024 catastrophe bond suggests a 100% payout of principal is likely. Melissa
As per accountancy firm Deloitte’s 2026 Global Insurance Outlook, property and casualty (P&C) and life insurers are increasingly turning to investor-backed and other forms of alternative capital to navigate shifting market conditions. In its 2026 outlook, the firm notes that property and casualty (P&C) carriers will need more flexible capital
As major hurricane Melissa bears down on the Caribbean island nation of Jamaica, the significant intensity of the storm could activate the country’s parametric catastrophe bond and insurance protection triggers which, should they pay out, will provide a valuable source of financial liquidity and recovery funding at a particularly challenging
In a world where while asset prices are rising the outlook remains uncertain with volatility lurking, wealth managers at US Bank, the fifth-largest commercial bank in the United States, have again spotlighted reinsurance and insurance-linked securities (ILS) as potentially valuable diversification for investors at this time. Providing its investment outlook
Prateek Singhal, Executive President & Head – Reinsurance at Howden India, believes that catastrophe bonds may be India’s “next shield”, emphasising the country’s need for instruments like cat bonds to protect its growing economy from climate risk. Readers may recall that there have been recent calls for India to develop its