Hurricane Melissa set to trigger $150 million Jamaica catastrophe bond to help rebuild

Hurricane Melissa set to trigger $150 million Jamaica catastrophe bond to help rebuild

The bond, structured by Aon, is designed to help Jamaica rebuild after natural disasters by providing parametric coverage against losses from named storms.

Jamaica's Catastrophe Bond Poised For Big Payout Within Weeks After Hurricane Melissa's Insane Strength

ZeroHedge - On a long enough timeline, the survival rate for everyone drops to zero

Melissa to add pressure at renewals but not enough to shift market balance: Willis Re

Despite Hurricane Melissa’s significant human and economic toll on Jamaica, Cuba, and other Caribbean islands, the event’s cost to the global reinsurance sector is unlikely to alter overall market dynamics, though it may give underwriters added leverage in renewal negotiations, according to Willis Re. As our sister publication Artemis recently reported, Hurricane Melissa is expected to trigger Jamaica’s $150 million World Bank catastrophe bond a…

Jamaica's cat bond "doing what it was designed to do" - Lefferdink, Aon Securities - Artemis.bm

As the catastrophe bond market awaits an official determination on the potential payout of Jamaica's $150 million IBRD CAR Jamaica 2024 parametric cat