weather derivatives

The Japan Bank for International Cooperation (JBIC) has signed (on June 12th) a memorandum of understanding with the Bank for Agriculture and Agricultural Cooperatives (BAAC) cooperation for the promotion of weather derivatives in the agricultural sector of Thailand. Specifically that will involve holding seminars to help improve understanding among end-users and private sector companies. Full […]

Weatherbill have provided the cover for another innovative travel scheme similar to their deal with Priceline. They’ve entered into an agreement with itravel2000.com, Canada’s largest online travel retailer, to provide coverage for their promotion, “Let it Snow”. WeatherBill will provide up to $100m CDN in snow coverage. The deal involves itravel2000 customers receiving a refund […]

According to the publication Travel Weekly (article here), Weatherbill are looking to target UK travel companies in an attempt to capitalise on their recent deal with Priceline.com. Good move by Weatherbill. The UK travel industry (particularly tour operators) do not use alternative methods to hedge against weather either for their customers or their own bottom […]

As ever at this time of year, interest in weather derivatives amongst the press picks up. I don’t know whether it’s purely a seasonal thing or perhaps the WRMA annual meeting has helped to stir interest this year. Anyway, here are two news articles that appeared over the weekend that are worth reading: Weather derivatives […]

Environmental Finance is carrying a news story announcing that Bluenext, the French environmental exchange, is planning on listing weather derivative contracts in the near future. The plan is to launch European contracts to begin with and follow on with U.S. in the future. This has got to be good for competition in the marketplace. Bluenext […]

TFS Energy today announced its US weather derivatives division completed a Dutch auction for Madison, WI and Cedar Rapids, IA, on behalf of a client who was looking to offset its risk. Offers were solicited for cumulative average temperature calls in Madison, WI and Cedar Rapids, IA, for the June – August 2008 time period. […]

Todays edition of the excellent BestDay Audio features an interview with Brian O’Hearne, head of Americas for Environmental and Commodity Markets at Swiss Re, regarding the weather derivatives market and why it continues to enjoy significant interest amid a global credit crunch. You can listen to the audio MP3 here (compatible player software required).

Great news to read that Nephila Capital is extending its partnership with Weatherbill (as announced at RIMS) by agreeing to provide more capacity for the online weather risk service. All cover will continue to be provided via the Nimbus Weather Fund run by Nephila. Seeing such firms working together to provide new areas of capacity […]

TFS Energy have just announced that its US weather derivatives division completed the first Dutch auction for Rome, Italy, on behalf of a client who was looking to offset its risk. Offers were solicited for cumulative average temperature calls in Rome for the May-September 2008 time period. The auction had a total of $40 million […]

Storm Exchange has announced that it is to acquire Weather Ventures. The acquisition will expand Storm Exchange’s weather and climate research capabilities and add a highly-regarded group of atmospheric scientists to the firm’s management team. Simultaneously, Storm Exchange will open a weather research center at The Pennsylvania State University, home of the nation’s leading meteorology […]