Jamaica due US $16.3m CCRIF payout, as Beryl triggered parametric cyclone cover

This content is copyright to www.artemis.bm and should not appear anywhere else, or an infringement has occurred. Jamaica is set to benefit from an approximately US $16.3 million payout from the CCRIF SPC (formerly known as the Caribbean Catastrophe Risk Insurance Facility) after hurricane Beryl triggered its parametric tropical cyclone insurance policy. The country’s Minister…

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Jamaica cat bond price down slightly, perhaps due to minor track revision uncertainty

This content is copyright to www.artemis.bm and should not appear anywhere else, or an infringement has occurred. According to sources, after hurricane Beryl came very close to triggering Jamaica’s $150 million IBRD CAR Jamaica 2024 catastrophe bond, there has been a slight decline in where it is marked on some pricing sheets, but this is…

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Not every risk transfer instrument designed to trigger for every storm: Jamaica MoF

This content is copyright to www.artemis.bm and should not appear anywhere else, or an infringement has occurred. While Jamaica won’t receive a payout from its catastrophe bond after hurricane Beryl passed close to the island but was not intense enough, or a direct hit, to activate that structure’s trigger, the fact the country has a…

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PCRIC grows parametric risk pool, develops new products to expand further

This content is copyright to www.artemis.bm and should not appear anywhere else, or an infringement has occurred. The Pacific Catastrophe Risk Insurance Company (PCRIC) has expanded its parametric insurance risk pool in the last year, signing up new sovereign and its first non-sovereign policy holders, while continuing to develop its products and looking to expand…

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Beryl becomes a hurricane again, heads for Texas landfall

This content is copyright to www.artemis.bm and should not appear anywhere else, or an infringement has occurred. Hurricane Beryl is back, having regained its hurricane strength wind speeds and now the storm heads for a Texas landfall. The fact Beryl took longer than anticipated to regain its structure and intensify again over the Gulf has…

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ARC pays out $32m as Zimbabwe’s parametric drought insurance triggers

This content is copyright to www.artemis.bm and should not appear anywhere else, or an infringement has occurred. The African Risk Capacity (ARC) Group, a provider of parametric disaster insurance products and risk pooling for countries and other entities in Africa, has made a US $32 million payout to benefit Zimbabwe after the parametric drought cover…

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CCRIF renews 10% more parametric coverage. Pays Guatemala $6.4m for rains

This content is copyright to www.artemis.bm and should not appear anywhere else, or an infringement has occurred. The CCRIF SPC (formerly known as the Caribbean Catastrophe Risk Insurance Facility) has seen its members renew their parametric insurance policies for the 2024/2025 policy year, with 10% more in parametric coverage purchased, while also making its first…

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Hurricane Beryl not expected to trigger Jamaica cat bond loss, Plenum confirms

This content is copyright to www.artemis.bm and should not appear anywhere else, or an infringement has occurred. An update from Swiss based catastrophe bond fund management specialist Plenum Investments confirms our earlier analysis, that the track and pressure data for major hurricane Beryl suggests the storm will not have breached the parametric trigger for the…

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Jamaica battered by hurricane Beryl, but IBRD catastrophe bond appears safe

This content is copyright to www.artemis.bm and should not appear anywhere else, or an infringement has occurred. Jamaica has been battered by the passage of major hurricane Beryl just off its southern coast. But, for holders of the World Bank facilitated $150 million parametric IBRD CAR Jamaica 2024 catastrophe bond transaction, early analysis of the…

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City National Rochdale mutual ILW fund sees slight growth to $227.4m

This content is copyright to www.artemis.bm and should not appear anywhere else, or an infringement has occurred. The City National Rochdale Select Strategies Fund, a US mutual insurance-linked securities (ILS) fund focused on investments into industry-loss warranties (ILW’s) and industry-index trigger catastrophe bonds, saw slight growth through the latest quarter of record, ending April 2024…

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