{"id":969,"date":"2025-11-07T13:50:11","date_gmt":"2025-11-07T14:50:11","guid":{"rendered":"http:\/\/fictionuncovered.com\/?p=969"},"modified":"2025-11-13T15:43:43","modified_gmt":"2025-11-13T15:43:43","slug":"jamaica-to-receive-full-150m-payout-from-parametric-cat-bond-after-hurricane-melissa-world-bank","status":"publish","type":"post","link":"http:\/\/fictionuncovered.com\/index.php\/2025\/11\/07\/jamaica-to-receive-full-150m-payout-from-parametric-cat-bond-after-hurricane-melissa-world-bank\/","title":{"rendered":"Jamaica to receive full $150m payout from parametric cat bond after Hurricane Melissa: World Bank"},"content":{"rendered":"

This content is copyright to www.artemis.bm<\/a> and should not appear anywhere else, or an infringement has occurred.<\/p>\n

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<\/a>\u00a0parametric catastrophe bond.
\n<\/span>
\n\"jamaica-world-bank-catastrophe-bond\"Recall that the World Bank facilitated and supported the issuance of Jamaica\u2019s $150 million\u00a0IBRD CAR Jamaica 2024<\/a>\u00a0parametric catastrophe bond.<\/p>\n

As we reported on November 1st<\/sup>, just days after Melissa made landfall in Jamaica, the World Bank indicated that a payout of the country\u2019s catastrophe bond was likely.<\/a><\/p>\n

\u201cAnalysis carried out by third-party calculation agent, AIR Worldwide Corporation, concluded that Hurricane Melissa reached pre-agreed parametric triggers qualifying for a full redemption of the World Bank Catastrophe Bond, which offers Jamaica financial protection against specified natural disasters. The analysis was based on the storm\u2019s central pressure and path, as reported by the National Hurricane Center,\u201d the World Bank said in a statement.<\/p>\n

Jorge Familiar, World Bank Vice President and Treasurer, commented: \u201cOur thoughts are with the people of Jamaica as they recover and rebuild from this tragedy. Jamaica\u2019s comprehensive disaster risk management strategy and proactive approach serve as a model for countries facing similar threats and seeking to strengthen their financial resilience to natural disasters.<\/p>\n

Adding: \u201cThe payout underscores the role of catastrophe bonds in effective risk management strategies and their efficiency in transferring disaster risks to capital markets.\u201d<\/p>\n

It is important to note that the forthcoming payout will be funded by investors across the globe, reflecting the broad distribution achieved at the initial issuance of the catastrophe bond.<\/p>\n

At its issuance, there were\u00a015 global investors that allocated to this catastrophe bond for Jamaica, with the cat bond distribution split 66% specialist insurance-linked securities (ILS) funds, 1% insurance or reinsurance companies, and 33% asset managers.<\/p>\n

In terms of geographical distribution, the Jamaica cat bond allocated 43% to investors in the United States, 40% to Europe, 14% to Bermuda, and 3% to Asia and Australia.<\/p>\n

In addition to the forthcoming full payout of the IBRD CAR Jamaica 2024<\/a>\u00a0parametric catastrophe bond, a broad package of World Bank Group assistance is set to be mobilized to help support Jamaica, combining quick-disbursing emergency finance, the redeployment of existing project funds, and targeted private-sector support through the International Finance Corporation, the World Bank Group\u2019s private sector development arm.<\/p>\n

Susana Cordeiro Guerra, World Bank Vice President for Latin America and the Caribbean, said: \u201cAs Jamaica confronts the aftermath of Hurricane Melissa, its strong commitment to preparedness is proving its worth \u2014 allowing the country to move swiftly from relief to reconstruction and to use this moment not just to rebuild, but to leapfrog toward more resilient infrastructure.<\/p>\n

\u201cThe World Bank Group stands with the Government and people of Jamaica to help rebuild stronger, restore livelihoods, and set a new benchmark for resilience across the Caribbean,\u201d Guerra added.<\/p>\n

We understand from our market sources that Jamaica is expected to receive the full payout by December 1st.<\/p>\n

Also read for more news on Jamaica\u2019s catastrophe bond:<\/strong><\/p>\n

\u2013\u00a0Hurricane Melissa crosses Jamaica cat bond parametric boxes at 892mb, 100% payout likely<\/a>.<\/p>\n

\u2013\u00a0Hurricane Melissa losses in Jamaica likely to fall to reinsurers, says AM Best. BMS suggests $5bn+<\/a>.<\/p>\n

\u2013\u00a0Melissa insured impacts in the billions. Jamaica cat bond full loss most likely: Twelve Securis<\/a>.<\/p>\n

\u2013\u00a0Jamaica\u2019s cat bond \u201cdoing what it was designed to do\u201d \u2013 Lefferdink, Aon Securities<\/a>.<\/p>\n

\u2013\u00a0Hurricane Melissa estimated single-digit billion insured loss. Cat bond payout likely: Aon<\/a>.<\/p>\n

\u2013\u00a0Jamaica cat bond marked near zero after Melissa landfall. Calculation process underway<\/a>.<\/p>\n

\u2013\u00a0World Bank says Jamaica catastrophe bond payout \u201clikely\u201d for hurricane Melissa<\/a><\/p>\n

\u2013\u00a0No adverse ILS market reaction expected from Melissa cat bond payout: Fitch<\/a><\/p>\n

Jamaica to receive full $150m payout from parametric cat bond after Hurricane Melissa: World Bank<\/a> was published by: www.Artemis.bm<\/a>
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This content is copyright to www.artemis.bm and should not appear anywhere else, or an infringement has occurred. 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\u00a0parametric catastrophe bond. Recall that the World Bank […]<\/p>\n","protected":false},"author":1,"featured_media":944,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[17],"tags":[],"_links":{"self":[{"href":"http:\/\/fictionuncovered.com\/index.php\/wp-json\/wp\/v2\/posts\/969"}],"collection":[{"href":"http:\/\/fictionuncovered.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/fictionuncovered.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/fictionuncovered.com\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"http:\/\/fictionuncovered.com\/index.php\/wp-json\/wp\/v2\/comments?post=969"}],"version-history":[{"count":2,"href":"http:\/\/fictionuncovered.com\/index.php\/wp-json\/wp\/v2\/posts\/969\/revisions"}],"predecessor-version":[{"id":971,"href":"http:\/\/fictionuncovered.com\/index.php\/wp-json\/wp\/v2\/posts\/969\/revisions\/971"}],"wp:featuredmedia":[{"embeddable":true,"href":"http:\/\/fictionuncovered.com\/index.php\/wp-json\/wp\/v2\/media\/944"}],"wp:attachment":[{"href":"http:\/\/fictionuncovered.com\/index.php\/wp-json\/wp\/v2\/media?parent=969"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/fictionuncovered.com\/index.php\/wp-json\/wp\/v2\/categories?post=969"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/fictionuncovered.com\/index.php\/wp-json\/wp\/v2\/tags?post=969"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}