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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 →

African Development Bank launches disaster risk facility, ARC to assist

The African Development Bank has announced the launch of a disaster risk facility that will aim to increase the use of climate risk financing and insurance, including parametric risk transfer solutions, for African countries.The African Development Bank (ADB) announced the approval and launch of the Africa Disaster Risks Financing (ADRiFi) read the full article →

Nephila signs up to offer pricing & capacity on weatherXchange

Nephila Climate, the weather and climate risk transfer focused unit of the largest asset manager in insurance and reinsurance linked investments, Nephila Capital, has signed up to provide indicative pricing through the Speedwell Weather run parametric weather risk transfer platform weatherXchange.In providing the indicative pricing for parametric and index-based weather read the full article →

Speedwell’s weatherXchange adds support for pricing of zero premium swaps

Speedwell Weather, a leading service provider to the weather risk management market, has added support for zero premium swaps within its parametric and index-based weather risk transfer platform weatherXchange, with pricing now available for these instruments.Speedwell launched its online technology based weather trading platform weatherXchange just over a year ago, enabling read the full article →

Speedwell’s weatherXchange platform gaining traction

A number of weather risk transfer transactions have been originated and executed thanks to Speedwell Weather's parametric weather risk transfer platform weatherXchange, while requests for pricing of contracts are rising, according to the company.Speedwell Weather, a provider of weather data, forecasting information, analytics, software and consultancy for the weather derivatives read the full article →

African Risk Capacity & UN partner to expand climate risk insurance access

The African Risk Capacity (ARC), an organisation providing parametric sovereign disaster risk insurance and resilience building support to African nations, has entered into a partnership with the United Nations Economic Commission for Africa (ECA) aiming to increase uptake and coverage of climate risk insurance in the region.The African Risk Capacity read the full article →