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Howden, Munich Re & Skyline create Jamaican parametric hurricane cover

Broking group Howden, global reinsurance firm Munich Re and UK insurtech Skyline Partners have teamed up to develop a parametric hurricane insurance product for Jamaican farmers. The parametric insurance is designed to stabilise Jamaica's financial system for its farming community, which it is said is coming under significant stress due to read the full article →

Parametric risk transfer interest drives innovation, but consolidation possible

Rising interest in parametric insurance and risk transfer has resulted in an influx of investor capital into the space, the development of new MGA's and capacity, as well as new technology platforms. While this is driving innovation in the parametric risk transfer space, the market is only so big for parametric read the full article →

UNDP and Generali partner on digitally enabled parametric insurance solutions

The United Nations Development Programme (UNDP) has announced a partnership on parametric insurance development for the most vulnerable with global insurer and asset management group Generali this morning. The partnership will provide financial and technical resources to develop risk transfer solutions for the world's vulnerable, with a goal of keeping the read the full article →

Demex launches Appraisals as pathway to parametric climate hedging

The Demex Group, a climate risk focused insurtech that aims to deliver climate-resilience through financial risk solutions on a global scale, has launched a new climate appraisal service that is designed to provide an assessment of climate-driven risk and provides an input to help companies hedge their climate exposure. Climate Risk read the full article →

Drought-affected Mali to benefit from $7.1m ARC replica payout via the WFP

More than 204,000 people in drought-affected parts of Mali are set to benefit from a $7.1 million payout by the African Risk Capacity (ARC) to the United Nations World Food Program (WFP), an ARC replica technical partner which has been subscribing to the climate insurance policy in Mali since 2017. The read the full article →

ARC payout helps Madagascar with post-cyclone Batsirai reconstruction

The African Risk Capacity (ARC) has now presented the Government of Madagascar with a "symbolic" $10.7 million cheque after the impacts of tropical cyclone Batsirai triggered the country's parametric tropical cyclone insurance coverage. As we wrote previously, Madagascar was the first African nation to take up the sovereign parametric cyclone insurance read the full article →

Descartes & Reask partner to expand parametric cyclone covers

Descartes Underwriting, the insurance technology (insurtech) focused managing general agency (MGA) that specialises in parametric and data-driven risk transfer products, is partnering with Reask, a climate analytics and data company that uses machine learning techniques. The partnership is focusing on tropical cyclone risk transfer, with the pair hoping to "push the read the full article →

Arbol reports $70m of gross premium transacted in 2021

Arbol, the technology-led underwriter of parametric risk transfer, climate and weather insurance business, has reported transacting an impressive $70 million in gross premium through its first full-year of operations in 2021. Notional or limit transferred will be much higher and Arbol said it was cash-flow positive for 2021. It's difficult to compare, read the full article →

Vietnam joins World Bank’s SEADRIF disaster insurance facility

The Government of Viet Nam, through its Ministry of Finance, has signed a Memorandum of Understanding (MoU) to become the eighth member of the Southeast Asia Disaster Risk Insurance Facility (SEADRIF). The Southeast Asia Disaster Risk Insurance Facility (SEADRIF) was set up in December 2018 with support from the World Bank read the full article →

Cyclone Batsirai triggers $10.7m ARC payout for Madagascar

The African Risk Capacity (ARC) will make a US $10.7 million payout to the Government of Madagascar after recent severe tropical cyclone Batsirai triggered the coverage the country has from the parametric insurance risk pooling facility. We believe this is the first parametric payout for tropical cyclone insurance coverage read the full article →