Weather Risk Management

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).

Nephila Capital, the world’s largest ILS and reinsurance fund manager, is to provide weather risk capacity to support The Demex Group, a climate risk focused insurtech start-up, as it comes out of stealth with a mission to provide financial risk solutions to deliver greater climate resilience.

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.

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.

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.

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.

Weather hedging seems to have worked as intended for Star Group (formerly Star Gas Partners) in the first-quarter of 2020, as higher temperatures in the United States triggered a payout under the energy providers weather derivatives arrangements.

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.

Global Parametrics, the parametric and index-based disaster risk transfer company, is putting capacity from the Natural Disaster Fund (NDF) that it manages behind a new weather insurance pilot for coffee farmers in Costa Rica that is powered by Arbol’s technology and smart contract driven marketplace for weather risk transfer.

Arbol, a technology driven marketplace that uses blockchain and smart contracts, has acquired well-known specialist provider of weather risk transfer and weather hedging solutions eWeatherRisk, as it looks to revolutionise the way weather risk transfer contracts are bought and sold.