Parametric insurance news

The Asian Development Bank (ADB) has its first catastrophe bond offerings in the market, with two $75 million issuances that each target parametric earthquake and extreme precipitation disaster risk financing from the capital markets for the Kyrgyz Republic and Tajikistan.

The Asian Development Bank (ADB) is in the market to issue its first catastrophe bonds with two offerings totalling $150 million of notes, that are designed to provide $75 million of multi-year parametric earthquake and extreme precipitation disaster risk transfer to each of the Kyrgyz Republic and Tajikistan, Artemis can report.

The Lagos State government has contracted a parametric flood-risk insurance policy in the Nigerian insurance market, which is designed to protect up to 4 million vulnerable people, providing up to USD 7.5 million for flood response and recovery.

Algorithmic Insurance Services, Inc., the wholesale broker trading as LIRG, has secured a $15 million quota-share reinsurance arrangement for New York-based managing general agent DLT Alert, underpinning the launch of a new suite of embedded parametric cyber warranty products aimed at cybersecurity solution providers.

As the insurance-linked securities (ILS) market continues to expand, Augment Risk is positioning parametric triggers not merely as a peripheral alternative, but as a central, diversifying asset class defined by its structural independence from traditional indemnity-based retrocession, a shift the firm believes is fundamental to unlocking the next phase of third-party capital allocation.

NormanMax, the expansive US based parametric insurance and reinsurance group with a pure-parametric syndicate at Lloyd’s, has hired Alvaro Espinel Pardo as a Vice President, where he will lead the firm’s strategy and development in Latin and South America.

Global insurance and reinsurance broker Aon has appointed Dan Tomlinson from Allianz Commercial as Head of Alternative Risk Transfer Solutions, Europe, the Middle East and Africa (EMEA).

Broker Guy Carpenter has announced the appointment of Ian Bartholomew PhD, Co-Founder and former Chief Underwriting Officer of parametric flood insurer, FloodFlash as Global Head of Parametric Advisory, effective June 1st, 2026.

A new study authored by Hang Gao, et al published in The Geneva Papers on Risk and Insurance has highlighted how basis risk is a manageable and structural feature of parametric triggers, decoupling it from financial impacts on insurers or policyholders to focus on its fundamental properties.

The Government of Jamaica has announced its intention to renew its Caribbean Catastrophe Risk Insurance Facility (CCRIF-SPC) parametric risk transfer coverage in May 2026. However, there has been no confirmation regarding the potential for any renewal of its World Bank-facilitated catastrophe bond.