Arbol, a leading global climate risk-coverage platform has announced its “strong performance” for the first half of 2023, reporting a significant increases in gross written premium (GWP), surpassing its performance in the first half of 2022.
The company confirmed that it has now transacted more than $1 billion in notional risk to date since its launch in early 2020.
Arbol notes this clearly demonstrates the trust businesses place in the firm for their climate risk coverage needs.
“We’re very proud of the amazing growth and significant achievements Arbol has made in the first half of 2023,” commented Sid Jha, Founder and CEO of Arbol.
“Our dedicated team, as well as the trust from our clients and partners, have made this possible. As we continue to grow globally and develop new products, we remain committed to driving innovation, promoting transparency, and supporting resilience in the climate risk-management sector.”
Arbol has continued to expand throughout the year. The firm has also witnessed significant success in the energy and agriculture sectors, owing in part to its bespoke technology solutions.
One key example of Arbol’s expansion was from May earlier this year, when the firm collaborated with global specialty insurer Beazley on a Lloyd’s coverholder facility for Arbol’s US insurance business.
Moving forward, in June, Arbol took a major step in an initiative with The Institutes RiskStream Collaborative by launching dRe—the industry’s first blockchain-powered platform for reinsurance. The platform is the first on-chain data calculation tool for reinsurance, its creation marks a significant milestone for parametric reinsurance.
Elsewhere, Arbol also plans to extend its technology-driven solutions into Europe, LATAM, and APAC. As part of this expansion, Arbol is working on developing products to address the distinct climate risks in these regions.
Overall, by showcasing a strong start to 2023, Arbol’s performance is a clear testament to its commitment to providing industry-leading climate risk solutions.
