KINGSTON, Jamaica — The World Bank on Tuesday issued a catastrophe bond providing the Government of Jamaica with US$200 million in insurance coverage against hurricanes.

The bond, which was provided through the International Bank for Reconstruction and Development (IBRD), replaces the previous catastrophe bond, which provided US$150 million in coverage and was fully paid out in 2025 following the impact of Hurricane Melissa on the island in October 2025.

In a statement on Wednesday, the Ministry of Finance said the 2026 catastrophe bond attracted strong international investor interest, securing participation from 25 global investors, up from 15 investors in the 2024 issuance.