African Risk Capacity news

The African Risk Capacity (ARC) has now paid out over $23 million after drought triggered Senegal’s parametric insurance policy with the facility.

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), 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.

The African Risk Capacity (ARC) will pay the Government of Côte d’Ivoire $738,835 after a deficit of rainfall during the growing season triggered the countries parametric insurance policy.

The African Risk Capacity (ARC) is set to pay the Government of Senegal $22 million after drought triggered the countries parametric insurance policy.

The African Risk Capacity (ARC) has teamed up with the Africa Centre for Disease Control (Africa CDC) to further its work on a parametric index to support outbreak and epidemic insurance and risk transfer at the sovereign level.

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.

Parametric development insurance provider the African Risk Capacity (ARC) targets becoming an independent institution within the next five years, with its current cooperation agreement with the World Food Programme (WFP) extended until 2024.

The African nation of Mozambique is seeking sovereign disaster insurance solutions to help better protect its economy and people against the impacts of drought, floods and tropical cyclones.

The African Development Bank has announced the launch of a disaster risk facility that will aim to increase the use of climate risk financing and insurance, including parametric risk transfer solutions, for African countries.