Weather Risk Management

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.

HSCM Ventures, the insurtech focused venture capital investing arm of reinsurance and transport focused asset manager Hudson Structured Capital Management, has led a $25 million Series B round for sensor-driven parametrics coverholder Parsyl.

The Demex Group, a climate risk focused insurtech that aims to deliver climate-resilience through financial risk solutions on a global scale, has successfully raised $9 million in Series A funding as it looks to help businesses mitigate the risks of climate change.

The Demex Group, a climate risk focused insurtech that aims to deliver climate-resilience through financial risk solutions on a global scale, has partnered with Canopius owned MGA and insurance API platform Vave to offer parametric extreme temperature insurance to commercial property owners.

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.

The United Nations Development Programme (UNDP) has today launched the Insurance and Risk Finance Facility (IRFF), a new initiative that aims to build financial resilience and bridge a $1.4 trillion global health, mortality, and disaster protection gap, with support from the insurance-linked securities (ILS) market expected in future.

Global Parametrics has collaborated on a new climate risk transfer product that integrates parametric risk transfer with the provision of debt financing to microfinance organisations and initiatives.