Commodity risk insurtech Stable has launched a collateralised insurer to help protect global food and farming businesses from volatile commodity prices.
Stable leverages its proprietary data science platform to address the $5 trillion of untraded or illiquid agricultural commodities that cannot be hedged.
Stable’s index-based solution has over 3,000 commodities in over 70 countries on a platform where buyers can find solutions to this previously unmitigated risk.
Bermuda was selected as the domicile of choice and with the help of Appleby Bermuda and Norton Rose Fulbright it was able to establish a collateralised insurer as well as an issuer of over-the-counter (OTC) commodity derivatives.
Insurance management is provided by Aon and reinsurance support is provided by A rated reinsurers led by Ascot Bermuda.
Andrew Brooks, CEO of Ascot Group, said, “Stable’s innovative technology enables the platform to tackle a significant problem for a $5trn industry.
“As a leading reinsurer, Ascot is excited to support this diversifying new line of business, priced with cutting edge technology.”
Richard Counsell, CEO of Stable Group, added, “We’re delighted to launch Stable’s global risk management platform in Bermuda.
“The support from the BMA and forward looking reinsurers, together with its plethora of top notch service providers and talent made it a natural choice for Stable.”
