That Catastrophe Bond

[malaise]

https://www.cbc.ca/news/science/jamaica-hurricane-melissa-bond-finance-9.6958943

How Jamaica took out an insurance policy for itself, and why it’s about to pay off after Hurricane Melissa

$150M US ‘catastrophe bond’ issued last year headed to full payout, will provide Jamaica immediate help


https://www.worldbank.org/en/news/statement/2025/10/31/world-bank-group-statement-on-support-for-jamaica

Our thoughts are with the people of Jamaica as they face the devastating impact of Hurricane Melissa. We are working closely with the Government of Jamaica and international partners, including the Inter-American Development Bank, to carry out a rapid post-disaster damage assessment and help guide immediate relief and recovery efforts.

Jamaica has developed one of the most advanced and comprehensive disaster risk financing systems in the Caribbean, serving as a model for preparedness and resilience across the region. This strong foundation will be critical in ensuring a swift and coordinated response to the hurricane’s impacts.

A broad package of World Bank Group assistance is ready to be mobilized — combining quick-disbursing emergency finance, likely payout in connection with a World Bank catastrophe bond, the redeployment of existing project funds, and targeted private-sector support through the International Finance Corporation, the WBG’s private sector arm. Our teams are also prepared to provide technical advice and implementation support to help Jamaica recover and rebuild stronger, ensuring that reconstruction efforts contribute to long-lterm resilience and sustainable growth.

Good explantation here

https://ici.radio-canada.ca/rci/en/news/2203183/how-jamaica-took-out-an-insurance-policy-for-itself-and-why-its-about-to-pay-off-after-hurricane-melissa#:~:text=Jamaica's%20%24150%2Dmillion%20US%20catastrophe,cat%20bond%20issue%20for%20Jamaica.