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ARC pays Madagascar $2.3m as parametric drought policy triggered

The African Risk Capacity (ARC), a parametric sovereign disaster risk insurer for African nations, has paid the government of Madagascar $2.3 million after its parametric drought insurance policy was triggered in the last growing season. Madagascar has benefited from ARC parametric insurance coverage thanks to its joining the Africa Disaster Risk read the full article →

Global Parametrics puts NDF capacity behind Arbol-powered weather risk pilot

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. To launch read the full article →

Arbol acquires eWeatherRisk, aims to revolutionise weather risk transfer market

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. eWeatherRisk is a long-time weather risk management and transfer market participant read the full article →

African Risk Capacity appoints former AXA exec as new CEO of insurer

A new CEO has been appointed to lead the insurance mutual and financial affiliate of the African Risk Capacity (ARC), the African Risk Capacity Insurance Company Ltd (ARC Ltd), with Lesley Ndlovu joining the firm from his most recent position with a division of AXA. The move comes as the tenure read the full article →

Wind power indices for risk transfer added to weatherXchange

Indices designed to facilitate the trading of weather risks related to wind power have now been added to weatherXchange, the parametric weather risk transfer platform operated by specialist Speedwell Weather. weatherXchange makes it easier for companies to access index-based weather risk protection, listing a range of weather risk transfer products that read the full article →

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 →