Jamaica can't tap into catastrophe-bond funds despite Hurricane Beryl's devastation.
With climate change on the rise, cat bonds have grown into a hotter investment.
But in this case, investors in the country's $150 million asset won't have to pay a dime, the outlet said.
The structure of the cat bonds was such that they paid investors 7% above the US Treasury rate.
Climate disasters are not always strong enough to trigger cat bond payouts, an expert told Business Insider in October.
Persons:
—, That's
Organizations:
Service, Bloomberg, Investments, Treasury, World Bank, Swiss Re
Locations:
Jamaica, Switzerland