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Jamaica in cat bond first

Category: ABS CMBS Insurance-linked securities

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Jamaica in cat bond first
The World Bank/IBRD has priced a catastrophe bond that will provide the government of Jamaica with financial protection of up to US$185m against losses from named storms for three Atlantic tropical cyclone seasons ending in December 2023. The government of Jamaica is the first government in the Caribbean region, and the first of any small island state, to independently sponsor a cat bond.

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