United States, May 19 -- The World Bank (International Bank for Reconstruction and Development, or IBRD, Aaa/AAA), priced a catastrophe (cat) bond that finances USD 200 million of insurance coverage against hurricanes for Jamaica replacing the previous cat bonds that financed USD 150 million coverage that was paid out to Jamaica following Hurricane Melissa, which hit the island in October 2025.The transaction was oversubscribed by investors, which supported the upsizing of its initial target amount. The bond builds on the experience of the catastrophe bonds issued by the World Bank in 2021 and 2024, to support Jamaica. For the 3-year 2024 catastrophe bond, a full payout to Jamaica was triggered by Hurricane Melissa in 2025. The pre-agreed p...