Parametric insurance news

FloodFlash, a flood risk focused insurtech company that offers an innovative sensor-based approach to parametric flood insurance, has secured capacity support from reinsurance giant Munich Re’s Specialty division to enable it to expand its parametric flood product across America.

“Insurance is the financial bedrock needed to de-risk investments and attract the additional capital necessary to mobilise the climate transition,” Rowan Douglas of Howden said today. To meet this goal, with exposure growing fast, there will be a significant need for more insurance capacity, with a role for the insurance-linked securities (ILS) market in delivering […]

African Risk Capacity Limited (ARC Ltd.), the financial affiliate and parametric insurance underwriting entity of the African Risk Capacity (ARC) Group, has received a $27 million contribution from the Dutch government to help in boosting climate resilience in Africa.

Global reinsurance giant Munich Re has appointed experienced parametric and weather risk transfer executive Jack Faure as its new Head of Parametric NatCat Solutions.

Howden, the global insurance and reinsurance broking group, has hired Gareth Davies as its new Head of Parametric Solutions, securing the executive from his most recent employer Price Forbes Re, Artemis has learned.

Capacity is increasing in the “active” parametric insurance and risk transfer market, according to broking group WTW, as alternative risk transfer options continue to experience “high demand”.

The government of Puerto Rico’s first attempt to source parametric insurance from the capital markets through a catastrophe bond appears to have been well-received by the market, as the Puerto Rico Parametric Re Ltd. (Series 2024-1) catastrophe bond has grown to $85 million in size and looks set to price at the mid-point of guidance, […]

Broking group Lockton has announced the hiring of Paul Jones from Descartes Underwriting as its new Head of Parametric Solutions (UK & Europe) within its Property & Casualty (P&C) Specialties division.

Take up rates for parametric risk transfer, insurance and reinsurance solutions have grown “dramatically” over the last year, according to broker Aon.

Descartes Underwriting, the parametric insurance and data-driven risk transfer specialist managing general agency (MGA), has hired former OTT Risk employee Matthew James as its new Commercial Director, UK & Ireland.