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Zimbabwe to get ARC parametric drought & replica cover via WFP

The government of Zimbabwe has approved the purchase of a parametric drought insurance policy from the African Risk Capacity (ARC) and will also benefit from a replica cover purchased by the World Food Programme (WFP).In becoming a policyholder of an ARC parametric insurance cover, Zimbabwe will better insulate itself against read the full article →

ARC pays Côte d’Ivoire $745k after rainfall deficit triggers parametric cover

The African Risk Capacity (ARC) has now made a payout of $745,000 to the Government of Côte d’Ivoire after a deficit of rainfall during the growing season triggered the countries parametric insurance policy.ARC had been aiming to pay the country $738,835, but the final payment came out slightly higher at 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 →

African Risk Capacity’s parametric drought payout to Senegal hits $23m

The African Risk Capacity (ARC) has now paid out over $23 million after drought triggered Senegal's parametric insurance policy with the facility.At first the African Risk Capacity (ARC) had estimated the payout would be closer to $22 million, but this week the facility actually paid $23.1 million in two amounts 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 →

Rainfall deficit triggers Côte d’Ivoire’s parametric African Risk Capacity policy

The African Risk Capacity (ARC) will pay the Government of Côte d’Ivoire $738,835 after a deficit of rainfall during the growing season triggered the countries parametric insurance policy.Having guaranteed a minimum pay-out of $22m for Senegal at the end of the country’s farming season in November, after drought triggered its read the full article →

African Risk Capacity to pay Senegal $22m after drought triggers policy

The African Risk Capacity (ARC) is set to pay the Government of Senegal $22 million after drought triggered the countries parametric insurance policy.African Risk Capacity Insurance Limited (ARC Ltd), the insurer arm of the parametric development insurance provider, will pay Senegal the $22 million to cover losses due to crop 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 →

African Risk Capacity targets independence within five years

Parametric development insurance provider the African Risk Capacity (ARC) targets becoming an independent institution within the next five years, with its current cooperation agreement with the World Food Programme (WFP) extended until 2024.The African Risk Capacity (ARC) provides parametric disaster insurance, alongside resilience and contingency plans, education and advice.ARC makes read the full article →

Mozambique seeks sovereign disaster insurance with help of ARC & World Bank

The African nation of Mozambique is seeking sovereign disaster insurance solutions to help better protect its economy and people against the impacts of drought, floods and tropical cyclones.The country is working with the parametric development insurance provider the African Risk Capacity (ARC), as well as other agencies including the World read the full article →