Your search for “microfinance”

Global Parametrics, a parametric and index-based risk transfer start-up that’s backed by the UK and German governments, has launched a new climate insurance initiative, targeting African and Asian smallholder farmers, alongside VisionFund International, World Vision’s microfinance arm.

VisionFund International, a division of global charity World Vision that oversees the entity’s microinsurance operations, is targeting parametric insurance and risk transfer as a way to back its innovative recovery lending programme.

Swiss headquartered weather index insurance and parametric risk transfer specialist CelsiusPro AG has launched a new disaster insurance solution designed to rapidly pay out emergency cash when earthquakes or tropical cyclones strike.

Global Parametrics, the parametric and index-based risk transfer start-up has secured the rest of its initial financing round, with a £7.9 million investment from the UK Government’s Department for International Development (DFID).

The Microinsurance Catastrophe Risk Organisation (MiCRO), a Barbados based reinsurance company that leverages the capital efficiency of the international reinsurance market alongside donor capital, has launched a novel index-linked business interruption policy.

Reinsurance firm Swiss Re, with partners PT Asuransi Wahana Tata (Aswata) and Mercy Corps, have recognised the protection gap opportunity to provide risk transfer to capital providers, launching a parametric earthquake insurance product targeted at micro-finance institutions (MFIs) in Indonesia.

The world of disaster risk transfer and financing for the developing world and development communities is getting increasingly interesting and relevant to the ILS world, with the latest news being the imminent launch of Global Parametrics, a parametric risk transfer provider backed by a third-party capitalised risk fund.

The government of Peru has established a catastrophe insurance facility for the countries farmers, buying a private risk transfer contract to cover around 550,000 hectares of crops, aiming to cover losses up to around $156m.

The Climate Insurance Fund, an initiative set up by German Development Bank KfW, aiming to improve access to and the use of weather and climate insurance in developing countries, has signed up BlueOrchard partnered with weather index insurance specialists CelsiusPro, to manage the fund.

The United Nations conference on climate change continues in Warsaw, Poland this week. A key topic of discussion is what to do about the growing loss and damages from climate and natural disasters, particular losses being suffered in the developing world.