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Climate change presents both P&C threat & opportunity: Moody’s

Climate change will create challenges and also opportunities for the property & casualty insurance and reinsurance industry, according to rating agency Moody's. However the threats presented by a changing climate are likely greater and Moody's says this has a "net negative credit impact on the industry."Moody's highlights a number of read the full article →

ARC adds five new countries, taps ILS capacity for reinsurance renewal

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 renewal of insurance policies and reinsurance coverage read the full article →

Interview: Where next for African Risk Capacity, Dr. Simon Young

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 Agency read the full article →

African Risk Capacity in first payout of $25m to three countries

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.Senegal, Niger and Mauritania will be awarded funds resulting from drought experienced during 2014. The report notes that read the full article →

Climate change catastrophe bonds for Africa to be launched by ARC

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.We've written many times about the catastrophe bond read the full article →