parametric trigger

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.

The sixth transaction in the Acorn Re parametric earthquake catastrophe bond series from global reinsurance firm Hannover Re has now been finalised so that this Acorn Re Ltd. (Series 2025-1) transaction will provide $240 million of protection, while the spread paid to noteholders will be below the initial price guidance.

The sixth transaction in the Acorn Re parametric earthquake catastrophe bonds from global reinsurance firm Hannover Re looks likely to increase in size and price down, with this Acorn Re Ltd. (Series 2025-1) transaction now targeted at between $225 million and $275 million in size, with lower spread guidance.

During a panel session earlier today at the ILS Bermuda Convergence 2025 conference, it was announced that the Bermuda Monetary Authority (BMA) is currently in the final stages of implementing a new special purpose insurer (SPI) class that will primarily focus on the use of parametric triggers.

NormanMax, the expansive US based parametric insurance and reinsurance group with a pure-parametric syndicate at Lloyd’s, has hired reinsurance and retro broking specialist Nick Griffiths to take on the role of Chief Revenue Officer, working across all the firms’ platforms.

There is a sixth transaction in the Acorn Re parametric earthquake catastrophe bonds from global reinsurance firm Hannover Re in the market, with this Acorn Re Ltd. (Series 2025-1) issuance currently offering $200m of notes to cat bond investors, Artemis has learned.

Willis, a business of broking group WTW, has launched a unique parametric insurance policy, designed in collaboration with Swiss Re Corporate Solutions, who will act as the insurer, which is introduced when a red weather warning is issued by the UK Met Office or Met Éireann, the Irish National Meteorological Service.

The Asian Development Bank (ADB) has hired Samantha Cook from the World Bank, who brings deep experience in disaster risk insurance arrangements, including parametric risk transfer and instruments such as catastrophe bonds.

Global reinsurance giant Munich Re has provided the capacity to support a parametric wind proxy hedge risk transfer product, structured using a solution from kWh Analytics, for a 79MW, wind project in Virginia, developed by Apex Clean Energy.

Miller, the independent specialist re/insurance broker, has partnered with Specialty Program Group Canada (SPG Canada) and NormanMax Syndicate 3939 to facilitate a binder between the two parties, granting SPG Canada full underwriting authority for a first-of-its-kind parametric earthquake solution in British Columbia.