climate risk

Ministers from the G20, or Group of Twenty recently came together in Johannesburg, South Africa to address major global challenges and ways to promote sustainability, with members underscoring the importance of investing in building sustainable resilience through the use of disaster risk reduction (DRR) tools such as catastrophe bonds and parametric insurance.

The Demex Group, a risk analytics and intelligence company, has announced a series of promotions within its leadership team, including the promotion of Michael Anderson as its new Chief Executive Officer (CEO), as the firm positions itself for growth as demand continues to rise for its aggregate severe convective storm (SCS) reinsurance solution.

Abaxx Technologies, a start-up financial software and market infrastructure company, has launched the Enwex German Wind Futures on the Abaxx Exchange, which marks the introduction of a new suite of weather derivatives.

VivoPower, a sustainable energy solutions organisation, and KWeather, a climate risk management solutions company, have signed an exclusive heads of agreement deal that will see both firms collaborate to build the world’s first WeatherCoin, a weather derivative token for climate risk management.

Descartes Underwriting, a specialist underwriter of parametric risk transfer opportunities, has joined the International Cooperative and Mutual Insurance Federation (ICMIF) as a Supporting Member to help tackle climate risk.

A new paper authored by Sayuri Shirai, ADBI Fellow at the Asian Development Bank Institute (ADBI), explores how banks can utilise catastrophe bonds and puts forward an interesting suggestion, that as sponsors or co-sponsors, banks could bundle the climate exposure from their other assets into cat bonds to hedge against growing climate risks.

The African Risk Capacity (ARC) Group, a provider of parametric disaster insurance products to countries and other entities in Africa, has made a combined parametric insurance payout of just over $5.4 million to support Mozambique’s response to the 2024/25 drought and to Tropical Cyclone Chido.

Vaisala, a global company that specialises in measurement instruments and intelligence for climate action, has appointed Lukas Schönach from Descartes Underwriting as European Commercial Lead for Weather Risk Management.

The government of the Philippines is aiming to secure enhanced climate-disaster risk financing and insurance capacity, with parametric structures likely to play a significant role, while Global Shield financing vehicles are expected to help fund the initiative.

The Demex Group, a risk analytics and intelligence company that facilitates climate and catastrophe peril parametric stop-loss reinsurance protection, has secured over $500 million of capacity for its newly developed working-layer aggregate severe convective storm (SCS) reinsurance solution.