African Risk Capacity news

Nephila Capital has participated as a reinsurance capacity provider for the African Risk Capacity (ARC), underwriting its first parametric weather risk transfer contract to cover African drought risks through its Lloyd’s of London Syndicate 2357.

The African Risk Capacity (ARC) has enlarged its risk pool, adding five new countries to those protected by the parametric insurer, growing the risk pool to $192m of capacity and utilising $70m of global reinsurance cover, which includes some ILS or collateralised protection.

The latest in our series of interviews features Dr Simon Young, CEO of African Risk Capacity Insurance Company Ltd (ARC Ltd), a catastrophe risk pooling insurer for African states established under the umbrella of the African Risk Capacity (ARC) Specialised Agency of the African Union (AU).

The African Risk Capacity (ARC), currently a catastrophe insurance pooling facility for Africa, is targeting a 2017 launch date for the first sovereign insurance cover for disease outbreaks and epidemics, which is being developed in response to the Ebola crisis.

The African Risk Capacity (ARC), the first catastrophe insurance pool set up to provide cover to African nations, is set to more than double the number of countries that benefit from its products in its second year, with 12 likely to sign up, according to its director general.

The African Risk Capacity (ARC), the first catastrophe insurance pool for Africa, is considering expanding to offer insurance coverage for Ebola and other epidemics to African nations. Meanwhile the World Bank continues to discuss Ebola and pandemic catastrophe bonds.

The African Risk Capacity’s (ARC) pioneering catastrophe insurance pool, which operates as the ARC Insurance Company Ltd. (ARC Ltd), is set to make its first payout, totalling $25 million to three participating countries.

Catastrophe bonds as a tool for financing the risk of climate change is set to become reality as the African Risk Capacity (ARC) announces the launch of the Extreme Climate Facility (XCF), a multi-year funding mechanism that will issue climate change cat bonds.

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.