weather derivatives

Speedwell Weather, a provider of weather data, forecasts, software, analytics and consultancy to the weather risk management and derivatives market, has expanded its Speedwell Commodity Product to enhance the granularity of data available.

Speedwell Weather, a provider of weather data, forecasts, analytics, consultancy and software to the weather risk management and derivatives market, has expanded the range of data available through its SuperPack product.

The trend towards greater frequency and severity of weather risk events in Europe, resulting in a higher risk of losses to insurers and reinsurers, requires an adjustment to the perception of risk as well as bespoke reinsurance solutions, Munich Re said this morning.

Reinsurance firm Swiss Re has assisted with the development and launch of the first weather derivative backed microinsurance scheme which aims to protect smallholder farmers in Nigeria from the risk of adverse weather patterns.

A new UK-flagged coverholder, Excessweather, launched this week offering insurance and reinsurance products which pay out based on weather or catastrophe indices and parameters, aiming to capitalise on interest in climate and weather risk protection.

Endurance Global Weather, the weather-driven risk management products division of Bermuda reinsurance firm Endurance Specialty Holdings, has announced the hire of Michael Grundmeyer as Director of Origination for the Americas.

The world’s largest reinsurance firm Munich Re’s U.S. weather derivatives and energy commodities trading unit Munich Re Trading LLC complements the reinsurers core operations and is highly strategic to its parent, according to S&P.

The Weather Risk Management Association (WRMA), an international trade association dedicated to promoting weather risk management to the industry and end-users, has announced the election of new members to its board.

The market in exchange traded snowfall derivatives has all but ground to a halt, according to a report from CNN, resulting in not even a single snowfall-linked weather derivative contract being traded on the Chicago Mercantile Exchange (CME) in 2013.

Broker Willis Group Holdings, global risk advisor, insurance and reinsurance broker, and Endurance Global Weather, a division of reinsurer Endurance Specialty Holdings, have completed an extremely innovative weather transaction for an Australian client.