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ARC sells first replica parametric policies to WFP & Start Network

The African Risk Capacity (ARC), an organisation providing parametric sovereign disaster risk insurance and resilience building support to African nations, has sold its first replica coverage policies for drought to the World Food Programme (WFP) and the Start Network.ARC launched the so-called "replica coverage initiative" back in 2015, hoping to read the full article →

African Risk Capacity in $8m parametric insurance payout to Malawi

The African Risk Capacity (ARC), Africa’s sovereign parametric catastrophe insurance pool, is to make a US$8 million payout to Malawi after its 2015/16 agricultural season parametric drought insurance policy was triggered by ARC's model.Initially, the ARC model did not register a payout for Malawi from the drought this year, but read the full article →

African Risk Capacity’s next growth phase to be led by new CEO

The insurance mutual and financial affiliate of the African Risk Capacity (ARC), the African Risk Capacity Insurance Company Ltd (ARC Ltd), has announced that former Director of the International Finance Corporation (IFC), Dolika Banda, will replace Dr. Simon Young as Chief Executive Officer (CEO) of the firm.The appointment comes into read the full article →

African Risk Capacity (ARC) to target growing risk pool to $1.5bn

The African Risk Capacity (ARC), Africa’s first sovereign catastrophe insurance pool, has ambitions to grow the size of the risk pool to $1.5 billion by 2020, as it increases the number of countries covered and expands products beyond drought, to include flood and cyclone risk.Speaking to Reuters yesterday, Director-General read the full article →

African Risk Capacity (ARC) gets $150m in support from COP21 countries

The African Risk Capacity (ARC), Africa’s first sovereign catastrophe insurance pool, is set to receive $150 million in support pledged by countries attending the Paris COP21 climate change talks over the last fortnight.The African Risk Capacity (ARC) has received a significant amount of coverage and support over the last fortnight. read the full article →

ARC opens parametric insurance products to organisations & NGO’s

The African Risk Capacity (ARC) aims to double the coverage it provides to as much as $1.5 billion by 2020, by opening up its parametric insurance products to international organisations, such as United Nations agencies and non-governmental organisations (NGO's).The African Risk Capacity (ARC), Africa’s first sovereign catastrophe insurance pool, is read the full article →

ARC adds five new countries, taps ILS capacity for reinsurance renewal

The African Risk Capacity (ARC) has enlarged its risk pool, adding five new countries to those protected by the parametric insurer, growing the risk pool to $192m of capacity and utilising $70m of global reinsurance cover, which includes some ILS or collateralised protection.The renewal of insurance policies and reinsurance coverage read the full article →

Interview: Where next for African Risk Capacity, Dr. Simon Young

The latest in our series of interviews features Dr Simon Young, CEO of African Risk Capacity Insurance Company Ltd (ARC Ltd), a catastrophe risk pooling insurer for African states established under the umbrella of the African Risk Capacity (ARC) Specialised Agency of the African Union (AU).The African Risk Capacity Agency read the full article →

African Risk Capacity hopes to expand to 12 countries in year-two

The African Risk Capacity (ARC), the first catastrophe insurance pool set up to provide cover to African nations, is set to more than double the number of countries that benefit from its products in its second year, with 12 likely to sign up, according to its director general.Speaking to Reuters, read the full article →

African Risk Capacity in first payout of $25m to three countries

The African Risk Capacity's (ARC) pioneering catastrophe insurance pool, which operates as the ARC Insurance Company Ltd. (ARC Ltd), is set to make its first payout, totalling $25 million to three participating countries.Senegal, Niger and Mauritania will be awarded funds resulting from drought experienced during 2014. The report notes that read the full article →