Swiss Re Insurance-Linked Fund Management

PCS - Emerging Risks, New Opportunities

CelsiusPro helps businesses become winners despite bad summer weather


Locarno International Film Festival, Bielersee-Navigation-Company and Ski Lifts Schwyz-Stoos Fronalpstock are among the winners this summer as they have successfully hedged against bad summer weather conditions in Europe. They hedged their financial risks with customized weather derivatives and received an automatic payout following a rainy summer according to CelsiusPro.

Artemis Live - ILS and reinsurance video interviews and podcastView all of our Artemis Live video interviews and subscribe to our podcast.

All of our Artemis Live insurance-linked securities (ILS), catastrophe bonds and reinsurance video content and video interviews can be accessed online.

Our Artemis Live podcast can be subscribed to using the typical podcast services providers, including Apple, Google, Spotify and more.

Winners despite bad summer weather

Zurich, 1. September 2010 – The extreme weather volatility this summer has caused substantial losses for many companies. Not so for the companies who hedged their risk with weather risk specialist CelsiusPro. Locarno International Film Festival, the Bielersee-Navigation-Company and the Ski Lift Schwyz Stoos Fronalpstock (SSSF) AG to name a few are among various other companies across Europe who planned ahead and decided to offset their risk with a weather derivative.

For Locarno International Film Festival, it was crucial to insure the days of public viewing with a customized weather cover whereas for Bielersee-Navigation-Company the most critical days are Sundays in spring and autumn as well as the summer vacation period – their most lucrative season. The SSSF AG who runs ski lifts during summer are highly affected by bad weather as hikers stay home when it rains.

“Depending on the industry, our clients have different risk periods and requirements. That is why we developed an online platform that allows our clients to easily customize a weather certificate that caters to their individual risk profile” says Mark Rueegg, CEO and founder of CelsiusPro.

Those who insured themselves with weather derivatives have been rewarded: following a wet summer, they are all receiving a payout – without having to submit a claim. Weather derivatives are index based financial products, hence the payout is linked solely to the defined weather condition (e.g. amount of rain) measured at a national weather station.

Print Friendly, PDF & Email

Artemis Newsletters and Email Alerts

Receive a regular weekly email newsletter update containing all the top news stories, deals and event information

  • This field is for validation purposes and should be left unchanged.

Receive alert notifications by email for every article from Artemis as it gets published.