weather derivatives

Japanese insurance group Mitsui Sumitomo Insurance has announced a partnership with NASA to utilise satellite data to enable it to sell weather derivative and other parametric weather insurance products more broadly around the globe.

Meteo Protect, a weather risk management, data, pricing, broking and structuring firm has entered into a strategic partnership with banking group BNP Paribas to offer its corporate and institutional clients weather risk transfer products.

Microsoft Corp. has revealed that it was a buyer in the first transaction to use the innovative wind farm weather hedging revenue product created by Allianz Risk Transfer (ART) with the help of Nephila Capital.

In the latest in our series of interviews with figures from the risk transfer and insurance-linked securities (ILS) markets, Artemis spoke with Barney Schauble, Managing Partner at specialist catastrophe and weather risk asset manager Nephila Capital.

The University of Cambridge Centre for Risk Studies has released a report exploring the potential impact space weather could have on the U.S. economy and insurance industry, noting that its stress test scenario shows the insurance industry could face losses of as much as $334 billion.

Alternative product specialist insurance and reinsurance firm Allianz Risk Transfer has closed a second innovative weather hedging revenue management transaction for a wind farm with the help of insurance linked asset manager Nephila Capital.

Speedwell Weather, a provider of weather data, forecasting information, analytics, software and consultancy to the weather derivatives and weather risk management market, is planning to launch a free platform to facilitate parametric weather risk transfer.

The Weather Risk Management Association (WRMA), a global trade organisation with a focus on promoting the weather risk management industry, has revealed that it’s appointed new board members and officers for the 2016-2017 year, at its 2016 annual meeting in Miami, Florida.

Insurance linked asset manager Nephila Capital and alternative product specialist insurer and reinsurer Allianz Risk Transfer have partnered to deliver an innovative weather hedging product for a wind farm, in the form of a 10-year Proxy Revenue Swap.

Global reinsurance firm Swiss Re’s first-quarter 2016 results were impacted by weather derivative losses and further adverse development from the New Zealand earthquakes, which could signal impacts more broadly, perhaps affecting some insurance-linked securities (ILS) players.