Jamaica’s Catastrophe Bond Poised For Big Payout Within Weeks After Hurricane Melissa’s Insane Strength Hurricane Melissa was the most powerful storm to make landfall in Jamaica in over 170 years, ripping through the Caribbean island’s western region with 185 mph winds and leaving widespread destruction to infrastructure, towns, resorts, and farmland. The storm’s central pressure is likely to have fallen below the threshold that would trigger a $150 million catastrophe bond designed to offset weather-related losses through the capital markets. According to CNBC, the government of Jamaica’s $150 million cat bond was structured by insurance broker Aon using the International Bank for Reconstruction… — Continue at ZeroHedge News : Read More
