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26 April 2024Alternative Risk Transfer

Jamaica secures $150m World Bank cat bond for four hurricane seasons

The Government of Jamaica has secured $150 million of parametric insurance coverage for four hurricane seasons through its World Bank (International Bank for Reconstruction and Development, or IBRD) “capital at risk” (CAR) catastrophe bond programme. Aon Securities and Swiss Re Capital Markets jointly structured the transaction with AIR Worldwide as the risk modeler.

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