Insurtech Ibisa and Quality Insurance Company (QIC) have launched a parametric weather insurance product in Ghana after all policyholders in this year's pilot scheme received a payout.
Africa
The government of Norway has announced a NOK50mn ($4.5mn) partnership with African Risk Capacity (ARC) to expand African governments' use of parametric insurance.
Africa Specialty Risks (ASR) has penned binding authority agreements with Eureka Re for its Middle Eastern and Mauritian subsidiaries.
The Microinsurance Network plans to replicate its regional coordination across Latin America in Africa, as the NGO pursues further regionalisation under the stewardship of new executive director Matthew Genazzini to boost insurance take-up among low-income communities.
Conflict-affected areas now represent 4.6 percent of the entire global landmass – a 65 percent increase since 2021, according to Verisk Maplecroft.
A parametric insurance-backed loans instrument for West African countries, developed by the West African Development Bank (BOAD), African Risk Capacity (ARC) and Munich Re was triggered by floods in Togo last month.
BMS Group has appointed Ryan Phillips as director and African practice leader.
The African Risk Capacity (ARC), UN World Food Programme (WFP) and African Union Development Agency (AUDA-NEPAD) launched the Africa Disaster Risk Management and Recovery Platform at the COP29 climate conference on Friday 15 November.
An Insurance Development Forum (IDF) project to strengthen the financial resilience of flood-prone communities in Ghana has delivered two parametric insurance products.
The Natural Disaster Fund (NDF) managed by Global Parametrics is the lead capacity provider for a parametric reinsurance policy intended to fund humanitarian aid in Africa’s Sahel region, it has announced.
Gallagher Re and regional risk pool African Risk Capacity (ARC) have designed a parametric reinsurance policy for the UN World Food Programme (WFP) to fund humanitarian action in Niger, Mali and Burkina Faso.
South African insurer Santam is on the hunt for an adviser to lead the build-out of its London/international platform and is engaging with Lloyd’s on the launch of a syndicate,
Nick Fraccalvieri, CEO of Aon’s EMEA facultative reinsurance business, shares his observations on what is driving facultative purchasing, the underlying market conditions and how Aon is remaining at the forefront of increased competition.
The government of Ghana has purchased insurance from the African Risk Capacity (ARC) for the first time, covering drought risks.
A parametric insurance scheme for smallholder farmers in Zimbabwe has made payouts to 1,800 farmers after a severe drought in the 2023-24 agriculture season, according to local media.
