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Parametrics to grow in areas where indemnity models struggle: panellists

While parametric insurance will never replace indemnity structures, they are expected to be leveraged more widely in areas where indemnity models struggle to provide adequate solutions, according to Richard Chattock, Chief Executive Officer (CEO) at London-headquartered, Insurtech Gateway. On the final day of the virtually held ILS Bermuda Convergence 2020 conference, read the full article →

Arbol lines up $250m non-traditional capacity, targets $1bn+ next year

Arbol, a provider of marketplace technology that supports parametric risk transfer or weather insurance and utilises smart contracts, told us that it has lined up $250 million of capacity from non-traditional market sources to help it expand. Arbol acquired well-known specialist provider of weather risk transfer and weather hedging solutions eWeatherRisk read the full article →

Nephila backs weather-linked wind power risk transfer for data center provider

Nephila Climate, the weather and climate risk focused arm of the largest independent insurance-linked securities (ILS) manager Nephila Capital, has provided capacity to back a weather-linked wind farm risk transfer deal, to support the needs of a data center provider. Working with its regular partners the Capital Solutions unit of Allianz read the full article →

Global Parametrics & Hannover Re back another Arbol-powered weather risk pilot

Global Parametrics and reinsurance giant Hannover Re are together supporting a weather risk insurance pilot scheme that is powered by Arbol’s technology and smart contract driven marketplace for weather risk transfer. The pair are supporting the AGRIBEE Crop Insurance Pilot with capacity to enable the provision of extreme weather protection cover read the full article →

CelsiusPro doubles-down on big-data for parametrics & weather risk transfer

CelsiusPro AG, the Swiss headquartered weather index insurance and parametric risk transfer specialist, is doubling down on the use of big-data and advanced technology to create better parametric triggers and indices for weather and natural catastrophe risk transfer. CelsiusPro is already a technology-focused company, calling itself an insurtech as it has read the full article →

Global Parametrics structures DFID-backed South Atlantic windstorm derivative

Global Parametrics, the parametric and index-based disaster risk transfer company, has structured a windstorm derivative transaction for a business on remote South Atlantic island Tristan da Cunha, with the deal backed by capacity from the UK Government’s Department for International Development, through the Natural Disaster Fund (NDF). The windstorm derivative features read the full article →

Global Parametrics builds out team with weather scientist & software hires

Global Parametrics, the parametric and index-based disaster risk transfer company, has added two hires as it continues to build out its team to meet growing demands for index-based risk transfer and insurance products. Global Parametrics aims to consolidate on its position as a provider of climate and natural disaster risk protection read the full article →

Arbol transacts $11m notional through weather risk platform

Arbol, a provider of marketplace technology that utilises smart contracts, has now sold $11 million notional in weather risk transfer contracts through its platform in the first four months since it began trading live transactions. Arbol completed an acquisition of well-known specialist provider of weather risk transfer and weather hedging solutions read the full article →

Nephila & Allianz in proxy revenue swap for Escalade wind farm in Texas

Nephila Capital, the largest insurance and reinsurance linked fund manager and global insurer Allianz have collaborated again to provide a proxy revenue swap to help reduce financing risk for those funding the 336 MW Escalade wind farm project in Texas. Through its specialist climate and weather focused underwriting, risk transfer and read the full article →

Tokio Marine HCC sees renewable opportunity with GCube acquisition

Tokio Marine HCC, the specialty insurance underwriter and part of the Tokio Marine Group, is aiming to create a ‘centre of excellence’ focused on renewable energy insurance, now that its acquisition of GCube has completed. GCube is a managing general agent (MGA) and underwriter focused on the renewable energy sector as read the full article →