Hurricane Melissa Triggers 100% Payout From World Bank Catastrophe Bond for Jamaica

Hurricane Melissa triggers 100% payout from World Bank Catastrophe Bond for Jamaica

The World Bank says the Government of Jamaica will receive a full payout of US$150 million under its catastrophe insurance coverage. In a statement on

Hurricane Melissa triggers payout of $150M World Bank bond for Jamaica

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 Bank for Reconstruction and Development, or IBRD, AAA/Aaa). Analysis carried out by third-party calculation agent, AIR Worldwide Corporation, […]

Hurricane Melissa triggers $150mn World Bank cat bond for Jamaica

The Government of Jamaica will receive a full payout of $150 million under its catastrophe insurance coverage, backed by a World Bank catastrophe bond, following the devastating impact of Hurricane Melissa. Hurricane Melissa was the thirteenth named storm and the fourth major hurricane of the 2025 North Atlantic hurricane season. For Jamaica, it is the first Category 5 hurricane to make landfall since record keeping started in 1851. As one of th…

Hurricane Melissa triggers 100 percent payout of $150M World Bank Catastrophe Bond for Jamaica

Pre-agreed parametric triggers reached for full payout based on storm’s central pressure and path WASHINGTON / JAMAICA — 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 Bank for Reconstruction and Development, or IBRD, AAA/Aaa). Analysis carried out by third-p…