African Risk Capacity news

The African Risk Capacity (ARC) will make a US $10.7 million payout to the Government of Madagascar after recent severe tropical cyclone Batsirai triggered the coverage the country has from the parametric insurance risk pooling facility.

The Start Network, an international network of non-governmental humanitarian organisations, has purchased a US $2.5 million replica parametric insurance cover from the African Risk Capacity (ARC) to protect more than 800,000 people in Zimbabwe from drought risk.

For the developing world and countries highly exposed to climate related risks, resiliency and food security need to go hand-in-hand to enable better responses to climate disasters and the African Risk Capacity (ARC) has partnered with the Afreximbank to provide both together.

On the margins of the COP26 climate conference in Glasgow yesterday, a significant vote of confidence in the African Risk Capacity’s (ARC) parametric climate insurance products was announced, as the German government said it would provide €18 million in premium support for qualifying ARC members.

Climate change has to become the greatest priority for the disaster risk financing space, meaning it is time to “shift the disaster risk architecture”, according to CEO of parametric risk pool and insurer the African Risk Capacity (ARC) Lesley Ndlovu.

The African Risk Capacity (ARC), a provider of parametric disaster insurance products to countries and now other entities in Africa, is targeting adding Somalia to its risk pool, signing an MoU with the Government to help it work through the onboarding process.

The African Risk Capacity (ARC), a provider of parametric disaster insurance products to countries and now other entities in Africa, has launched a parametric tropical cyclone insurance product for African nations and Madagascar has become the first to take it up.

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.

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), 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.