weather derivatives

Technology-led underwriter of parametric risk transfer, climate and weather insurance business, Arbol, has today reported that it transacted more than $100 million in gross written premium (GWP) in the first half of 2022.

Given the hardening of pricing across natural catastrophe reinsurance markets and renewals, the analysts at RBC Capital Markets have asked whether a de-commoditisation of nat cat risk is currently underway?

The Demex Group, a climate risk focused insurtech that aims to deliver climate-resilience through financial risk solutions on a global scale, has launched new parametric snow insurance covers that are financially supported through derivatives agreements with ILS fund manager Nephila Capital, as well as new reinsurance agreements.

Speedwell Climate, a leading provider of weather, catastrophe and climate data, indices and settlement services, has teamed up with the European Power Exchange (EPEX SPOT) on the launch of a set of weather-based power indices to provide risk management and hedging opportunities to the renewables sector.

Index-based risk transfer has a key societal role to play, in providing protection to support issues such as the renewable energy transition, covering extreme weather catastrophe events, and helping support access to scarce resources, newly renamed Speedwell Climate has said.

Arbol, the technology-led underwriter of parametric risk transfer, climate and weather insurance business, has reported transacting an impressive $70 million in gross premium through its first full-year of operations in 2021.

ICAP, part of the TP ICAP group which is one of the largest interdealer brokers in the world, has completed what it is calling a landmark deal in the weather derivatives market, by directly connecting a renewable energy provider and a reinsurance capital provider using a fixed agreement, for the first time.

Arbol, a technology-led company focused on parametric risk transfer and weather insurance markets, has announced the formation of Arbol Underwriters Ltd. (AUL), a registered insurance agent based in Bermuda, that will focus on matching reinsurance capacity with parametric insurance risks.

The Chicago Mercantile Exchange (CME), which has always been an exchange location where weather futures and derivatives have been traded, is set to use weather data for settlement and valuation of its contracts from specialist provider Speedwell.

TP ICAP group, one of the largest interdealer brokers in the world and Speedwell Group, a long-time specialist service provider to the weather risk management and parametric risk transfer market, have collaborated to launch a new climate index which aims to make financial risk related to the rate of climate change tradable.