Caribbean countries look to issue regional cat bond

Countries in the Caribbean region are in talks with The World Bank Group to issue a regional catastrophe bond and secure an increased amount of parametric disaster risk financing for the region, reports citing Latinamerica Press. The Caribbean nations are looking to issue a multi-country catastrophe bond, either as standalone additional regional disaster risk coverage or as a reinsurance backstop to the Caymans Islands-based Caribbean Catastrophe Risk Insurance Facility Segregated Portfolio Co. 

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