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Cooper Gay acquires Meteo Protect, Gabriel Gross to lead new parametric unit

Cooper Gay France, the European broker and wholesale managing general agency (MGA) that is part of the BGC Partners broking group, has acquired the Meteo Protect brand and technology, the specialist parametric and weather index insurance underwriting agency and Lloyd's coverholder, we can reveal. Meteo Protect is a leading specialist in read the full article →

Wind power indices for risk transfer added to weatherXchange

Indices designed to facilitate the trading of weather risks related to wind power have now been added to weatherXchange, the parametric weather risk transfer platform operated by specialist Speedwell Weather. weatherXchange makes it easier for companies to access index-based weather risk protection, listing a range of weather risk transfer products that read the full article →

Parametric MGA Skyline Partners joins weatherXchange as capacity provider

weatherXchange, the parametric weather risk transfer platform operated by specialist Speedwell Weather, has added another new capacity provider for the weather hedging products available through it, in parametric managing general agent (MGA) Skyline Partners. Skyline Partners is based in London and operates with a focus on parametric insurance and risk transfer read the full article →

Citadel offers weather hedging capacity on weatherXchange

Citadel Energy Investments Ltd., part of the giant Citadel investment organisation, is set to provide weather risk transfer capacity through the Speedwell Weather operated parametric weather risk transfer platform weatherXchange. Citadel invests and allocates capital across a huge range of asset classes, one of which within its commodities business is the read the full article →

Blue Marble & World Food Programme expand index insurance partnership

Blue Marble Microinsurance (Blue Marble) has announced an expansion of its weather-index parametric insurance partnership with The United Nations World Food Programme (WFP) in Africa. Blue Marble, backed by its shareholding global insurance, reinsurance and broking firms, has already been active offering its socially impactful, commercially viable parametric insurance protection to read the full article →

Blue Marble renews, expands Colombia parametric weather insurance

Blue Marble Microinsurance (Blue Marble) said it has renewed and expanded the weather index insurance scheme for smallholder coffee farmers in Colombia that it launched in 2018 in cooperation with Nespresso. The pair launched the program as a pilot scheme in late 2018, saying that because of climate change coffee producers read the full article →

CelsiusPro hires Mueller from Swiss Re as parametric risk consulting lead

CelsiusPro AG, a Switzerland headquartered weather index insurance and parametric risk transfer specialist, has announced the hiring of Lea Mueller to lead its consultancy and advisory offering. CelsiusPro, which considers itself an insurtech, offers parametric risk transfer and insurance solutions and advisory services, focused on severe or extreme weather protection, weather read the full article →

Meteo Protect launches parametric weather risk transfer API

Meteo Protect, the specialist parametric and weather index insurance underwriting agency that is a Lloyd’s of London coverholder, has launched an innovative API (application program interface) to its parametric insurance products, allowing anyone to launch a parametric insurance program more simply. An API (application program interface) provides an interface, typically technology read the full article →

Orbital Micro Systems targets enhanced weather insights for re/insurance & ILS

More granular and higher resolution satellite data from earth observations are set to improve weather and catastrophe event insights for the insurance, reinsurance and insurance-linked securities (ILS) industry, according to the CEO of Orbital Micro Systems. Orbital Micro Systems is a specialist in technology and data for space applications, with expertise read the full article →

Blue Marble works with Nespresso on parametric weather insurance pilot

Blue Marble Microinsurance (Blue Marble) is working with coffee company Nespresso on a pilot program to deliver weather index insurance to smallholder coffee farmers in Colombia. The pair note that due to climate change producers of coffee are particularly exposed to weather variability and extremes, resulting in a need for risk read the full article →