weather risk

Stephen Doherty, the Chairman of Speedwell Weather, a service provider to the weather risk management market, expects the wind hedging market to gain further momentum after steady growth in recent years, and, in a recent interview, told Artemis about the benefits of its sophisticated Windfarm Benchmarks.

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.

London headquartered insurance and reinsurance firm Beazley has updated the technology systems and user experience of its parametric weather insurance products, in order to provide what it calls the first fully personalised insurance policy and to enable automatic payouts to claimants.

Much of the trading team behind the long-standing Cumulus weather and energy investment funds are transferring over to investments and hedge fund giant Citadel LLC, as the Cumulus funds are being shuttered, according to a report from Bloomberg.

Parametric and weather index insurance specialist Meteo Protect has successfully renewed the arrangement that provides Spanish olive farmers and producers with parametric risk transfer to enhance their resilience to weather and climate-related risks.

Meteo Protect, a parametric and weather index insurance specialist, has launched a new product offering parametric flood coverage for river cruise operators and riverside businesses.

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.

Nephila Capital, the largest insurance and reinsurance-linked fund manager with approximately $11 billion of ILS assets under management, is expanding its role in weather, climate and environmental, social & governance risks with the launch of a dedicated unit, Nephila Climate.

As the European wind energy sector continues to expand but governments reduce support for new projects, global reinsurer Swiss Re’s Corporate Solutions unit is expecting the industry to shoulder a greater portion of weather volume risk, underlining the potential for innovative wind hedges and demand for capacity to rise.

FINACTU Group has announced that it’s been chosen by the Moroccan government to support the establishment and supervision of a parametric insurance solution to protect the country’s agricultural sector from drought risks.