African Risk Capacity

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African Risk Capacity to start underwriting inwards reinsurance

The African Risk Capacity (ARC), a provider of parametric disaster insurance products to countries and now other entities in Africa, is also planning to further expand its risk pool by underwriting inwards reinsurance thanks to securing a rating from Fitch. African Risk Capacity Limited (ARC Ltd), the commercial insurer subsidiary of read the full article →

African Risk Capacity expands cover to non-sovereign risk transfer buyers

The African Risk Capacity (ARC), which has so far provided parametric disaster insurance products to countries in Africa, is set to expand its client base to include non-sovereign actors, as it looks to grow and diversify its portfolio of risks. The African Risk Capacity (ARC) has only provided risk transfer and read the full article →

African Risk Capacity expanding into flood risk in 2021

The African Risk Capacity (ARC), which provides parametric disaster insurance products for countries in Africa, is currently in a pilot phase with a new flood tool, that it hopes to roll-out more broadly next year. At a conference in Dakar this week, executives from the African Risk Capacity (ARC) discussed progress read the full article →

African Risk Capacity names new Director General

The African Risk Capacity (ARC) Group, a parametric sovereign disaster risk insurer for African nations, has elected a new Director-General (DG), with Ibrahima Cheikh Diong unanimously voted into the position. Diong is an African statesman from the Republic of Senegal and a Civil Engineer by profession. Diong will work alongside Lesley Ndlovu, read the full article →

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 →