Climate change & climate risk related news

When it came to analysing hurricane Ian’s approach and potential landfall impacts, the uncertainty in modelled outputs on the storm can be helpful, but really the details and parameters of this major hurricane matter most, Aeolus Capital Management’s Pete Dailey explained yesterday.

Reinsurance broker Gallagher Re has announced an interesting win, in being selected by Senegal’s Public Solidarity Fund (FSN, Fonds de Solidarité Nationale) to develop a comprehensive risk financing strategy, covering climate risk and food security.

Arbol, a technology-led underwriter of parametric risk transfer, climate and weather insurance or reinsurance business, has made another key hire, bringing onboard Brad Livingston, an executive with significant insurance-linked securities (ILS) market experience, as its new Head of Risk Capital Solutions.

Arbol, a technology-led underwriter of parametric risk transfer, climate and weather insurance or reinsurance business, has announced another key hire, appointing Jeffrey Khoo to lead its Asia Pacific expansion plans.

In order for the insurance and reinsurance industry to address the societal challenges of climate change, more capital is going to be required and the sector capacity base needs to change forever, Aon CEO Greg Case said today.

Arbol, a technology-led underwriter of parametric risk transfer, climate and weather insurance business, has partnered with Singapore based insurer Singlife with Aviva to provide it a parametric rainfall insurance product for travellers.

In a new report, rating agency Fitch states that climate change is stimulating the development of the catastrophe bond market, as demand for protection rises and the capital markets offers an efficient source of reinsurance against climate-linked catastrophe events.

Technology-led underwriter of parametric risk transfer, climate and weather insurance business, Arbol, has today reported that it transacted more than $100 million in gross written premium (GWP) in the first half of 2022.

At a recent climate finance focused event, Pakistan’s Minister for Climate Change, Sherry Rehman, called on international governments to place climate finance and losses at the heart of COP 27 talks next year, with catastrophe bonds one instrument seen as having a role.

Building on last year’s launch of a solution to help corporations better manage climate risk and climate change exposure, with the help of parametric risk transfer to captive insurance structures, Arbol has now launched a new climate risk focused parametric insurance captive in Connecticut.