africa

Insurance and reinsurance brokerage Willis Group brokered the $55m of reinsurance protection that supports the first African parametric catastrophe insurance pool, which we announced the launch of yesterday by African Risk Capacity (ARC Ltd).

The first catastrophe insurance pool for African nations has been launched today by African Risk Capacity (ARC), a specialised agency set-up by the African Union to help member states become more resilient to extreme weather events and to protect food insecure populations.

Microinsurance is beginning to show the potential for growth that market participants and commentators have been predicting. At the heart of that growth is the provision of weather index linked insurance to farmers and businesses in developing countries.