African Risk Capacity

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ARC pays Madagascar $2.3m as parametric drought policy triggered

The African Risk Capacity (ARC), a parametric sovereign disaster risk insurer for African nations, has paid the government of Madagascar $2.3 million after its parametric drought insurance policy was triggered in the last growing season. Madagascar has benefited from ARC parametric insurance coverage thanks to its joining the Africa Disaster Risk read the full article →

Germany helps fund parametric risk transfer premiums for ARC member nations

The German government is helping African countries to continue benefiting from parametric drought insurance protection under the African Risk Capacity (ARC), with around EUR 19 million being donated to help fund their participation during a time when fiscal budgets may be stretched by the pandemic. The German government is assuming responsibility read the full article →

African Risk Capacity (ARC) to add parametric coronavirus insurance

The African Risk Capacity (ARC), a parametric sovereign disaster risk insurer for African nations, is planning to add coronavirus protection to its planned outbreaks and epidemics parametric insurance product, which it aims to have available from 2021. The work to develop a protection product based on a parametric index to support read the full article →

African Risk Capacity appoints former AXA exec as new CEO of insurer

A new CEO has been appointed to lead the insurance mutual and financial affiliate of the African Risk Capacity (ARC), the African Risk Capacity Insurance Company Ltd (ARC Ltd), with Lesley Ndlovu joining the firm from his most recent position with a division of AXA. The move comes as the tenure read the full article →

ARC focusing on multi-hazard index for climate cat bond facility XCF

The African Risk Capacity (ARC) continues to work towards the implementation of its climate catastrophe bond backed Extreme Climate Facility (XCF), focusing on the development of a robust multi-hazard index that can be used to trigger the instruments. The Extreme Climate Facility (XCF) is a proposed multi-year funding mechanism which will read the full article →

Zimbabwe to get ARC parametric drought & replica cover via WFP

The government of Zimbabwe has approved the purchase of a parametric drought insurance policy from the African Risk Capacity (ARC) and will also benefit from a replica cover purchased by the World Food Programme (WFP). In becoming a policyholder of an ARC parametric insurance cover, Zimbabwe will better insulate itself against read the full article →

ARC pays Côte d’Ivoire $745k after rainfall deficit triggers parametric cover

The African Risk Capacity (ARC) has now made a payout of $745,000 to the Government of Côte d’Ivoire after a deficit of rainfall during the growing season triggered the countries parametric insurance policy. ARC had been aiming to pay the country $738,835, but the final payment came out slightly higher at read the full article →

African Risk Capacity’s parametric drought payout to Senegal hits $23m

The African Risk Capacity (ARC) has now paid out over $23 million after drought triggered Senegal's parametric insurance policy with the facility. At first the African Risk Capacity (ARC) had estimated the payout would be closer to $22 million, but this week the facility actually paid $23.1 million in two amounts read the full article →

ARC progresses climate cat bond facility XCF, signs up UN support

The African Risk Capacity (ARC) is continuing to make progress towards the launch of its Extreme Climate Facility (XCF), a proposed multi-year funding mechanism that will issue climate change catastrophe bonds to help African nations transfer climate change related exposure to the capital markets. The African Risk Capacity (ARC) first launched read the full article →

ARC and Southern African nations to work on parametric risk transfer

The African Risk Capacity (ARC), which provides parametric disaster insurance products for countries in Africa, has signed a memorandum of understanding with the Southern Africa Development Community (SADC) Secretariat to further enhance its members disaster resilience and risk financing. With the SADC region of Africa being particularly prone to climate and read the full article →