weather derivative

Decentralised climate infrastructure platform dClimate has announced that it has launched Tyche, a blockchain-based platform designed to facilitate insurance risk transactions, which will initially focus on catastrophe reinsurance before expanding towards energy-linked weather derivatives and collateral facilities.

Abaxx Technologies, a start-up financial software and market infrastructure company, has launched the Enwex German Wind Futures on the Abaxx Exchange, which marks the introduction of a new suite of weather derivatives.

VivoPower, a sustainable energy solutions organisation, and KWeather, a climate risk management solutions company, have signed an exclusive heads of agreement deal that will see both firms collaborate to build the world’s first WeatherCoin, a weather derivative token for climate risk management.

The National Commodity and Derivatives Exchange (NCDEX) has signed a Memorandum of Understanding (MoU) with the India Meteorological Department (IMD) to develop India’s first parametric weather derivatives, according to a recent article from The Economic Times.

Having recorded a lower benefit from its weather derivatives for the last contract year, US energy company Star Group (formerly Star Gas Partners) has lifted the top-end of its protection from the weather hedges for its fiscal year 2025.

The weather derivatives market has seen activity levels roughly quadruple this year, as trading in weather futures and options on the Chicago Mercantile Exchange (CME) soared, with the main driver said to be the belief that extreme weather events are set to increase.

US energy company Star Group (formerly Star Gas Partners) has benefitted from its weather derivative arrangements again in the first-quarter of 2023, recording a full recovery under the terms of the degree day contract it has in place.

The Demex Group, a climate risk focused insurtech that aims to deliver climate-resilience through financial risk solutions on a global scale, has made a key hire, appointing Matt Coleman who most recently worked at Nephila Climate as its Chief Risk Officer.

The Demex Group, a climate risk focused insurtech that aims to deliver climate-resilience through financial risk solutions on a global scale, has launched new parametric snow insurance covers that are financially supported through derivatives agreements with ILS fund manager Nephila Capital, as well as new reinsurance agreements.

Inter-dealer brokerage Tullet Prebon has hired a weather derivatives broker to its wholly owned subsidiary Tullett Prebon Energy. Peter Rosen joins the firm from his last role as a weather broker at ICAP and will report to Christopher Grosso, Director of Energy Products. He will be based in the firm’s Jersey City office.