According to a report from Bloomberg, the governments of Colombia and Peru and also Caribbean nations, are among those considering sponsoring World Bank facilitated catastrophe bonds, as activity in the market continues to pick up.Colombia and Peru were both beneficiaries under the .But that issuance matured and neither sought any renewal.That was until now, with .

“Chile issued in 2018 and now they’ve come back,” Michael Bennett, head of market solutions and structured finance at the World Bank told Bloomberg.“We expect that it will help generate more interest in our different member countries that are catastrophe-risk vulnerable.” Now, according to Bloomberg, Colombia has confirmed it is working on the structure of a potential transaction that would cover it against the costs of excess rain including flooding, a government representative said.Meanwhile, Bloomberg also reports that Peru is holding exploratory talks with the World Bank about a transaction to cover earthquake risk, a government official told the publisher.

Bennett also told Bloomberg that Jamaican countries are working with the World Bank on a possible regional catastrophe bond.That could be interesting as an additional source of insurance and reinsurance protection to the regional catastrophe risk pool the CCRIF.It’s reported that Jamaica may participate in any multi-country Caribbean catastrophe bond deal, despite having .

.It’s encouraging to hear of the traction the World Bank has with a number of countries, suggesting we could see a more robust flow of sovereign cat bond deals through the next few years...

All of our Artemis Live insurance-linked securities (ILS), catastrophe bonds and reinsurance can be accessed online.Our can be subscribed to using the typical podcast services providers, including Apple, Google, Spotify and more.