Jamaica has signed off on important grant funding arrangements, paving the way for its long-awaited catastrophe bond issuance to get on the way.
Jamaica has been planning a catastrophe bond issuance for two years now to enhance its disaster insurance arrangements in advance of the 2020 hurricane season. However, the catastrophe bond deal, which had been a work in progress for some years prior, was forcibly delayed by the novel coronavirus pandemic but is now being given full attention.
Work to get the catastrophe bond up and running was given a boost recently with Jamaica securing important grant funding, which will pay for the majority of the catastrophe bond premiums. The funding secured will also be used to offset upfront issuance costs.
Leave A Comment