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Climate insurance-linked securities (ILS) opportunity seen for London

A forum co-chaired by UK regulator the Financial Conduct Authority (FCA) and the Bank of England's Prudential Regulation Authority (PRA) calls for the development of a market for climate-related insurance-linked securities (ILS) in London. London and the United Kingdom has been seeking to create a greater role for itself in insurance-linked read the full article →

EC seeks feedback on cat bonds for climate risk transfer & financing

The European Commission (EC) has launched a consultation on sustainable finance, as it plans to "ensure a sustainable and resilient economic recovery following the coronavirus outbreak." The European Commission (EC) will factor the feedback into its work to mobilise private capital to support sustainable projects. Climate related risk is clearly a huge 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 →

ARC progresses climate cat bond facility XCF, signs up UN support

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) first launched 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 →