Reinsurance News
ARC Ltd
Fitch downgrades ARC’s ratings on sustained earnings volatility
16th March 2026
Fitch Ratings has downgraded African Risk Capacity (ARC Ltd.)’s Insurer Financial Strength (IFS) Rating to ‘BBB+’ from ‘A-’ and its Long-Term Issuer Default Rating (IDR) to ‘BBB’ from ‘BBB+’, reflecting a decline in the firm’s standalone credit quality, which has been revised to ‘bb+’ from ‘bbb-’. The revision of the parametric ... Read the full article
Madagascar secures $29m parametric payout following tropical cyclones
5th March 2026
Following tropical cyclones Fytia and Gezaniver, which affected more than half a million people and caused widespread damage to infrastructure, livelihoods and essential services across several regions of Madagascar, $29 million has been mobilised to support response and recovery efforts through a combination of pre-arranged parametric financing solutions facilitated by ... Read the full article
Senegal’s second-largest city secures parametric contract structured by AXA Climate
29th January 2026
Pikine, Senegal’s second-largest city with more than 750,000 inhabitants, has signed a parametric insurance contract against excessive rainfall, structured by AXA Climate, and insured by a consortium of Senegalese insurers, AXA Sénégal, ASKIA Assurances, and SUNU Assurances, reinsured by African Risk Capacity (ARC) Ltd. This insurance will enable Pikine to receive ... Read the full article
Madagascar first African country to adopt sovereign parametric flood product: ARC
28th January 2026
African Risk Capacity (ARC) has launched Africa’s first sovereign parametric flood insurance policy, with the Republic of Madagascar becoming the first country on the continent to subscribe to the new coverage. ARC developed the parametric flood insurance solution in close collaboration with JBA Risk Management and is based on scientific data ... Read the full article
Red Cross leads pilot of parametric flood insurance in Malawi
2nd December 2025
The Malawi Red Cross Society and the Danish Red Cross, in partnership with African Risk Capacity (ARC) Ltd., JBA Global Resilience, the InsuResilience Solutions Fund (ISF), and the Danish Ministry of Foreign Affairs, have piloted Malawi’s first parametric flood insurance. The project is built on advanced flood-risk modelling with predefined contingency ... Read the full article
ARC launches WAQF ReTakaful Facility to advance climate resilience in Africa
17th November 2025
The African Risk Capacity (ARC) Group has established the WAQF ReTakaful Facility, a first-of-its-kind Sharia-compliant reinsurance initiative aimed at advancing climate resilience and inclusive finance in ARC member states, facilitated by AlHuda CIBE. The facility was announced during the 7th Global Takaful and ReTakaful Forum, organised by AlHuda CIBE from October ... Read the full article
REPAIR programme’s Phase 2 extends to Angola, Burundi, Malawi, Seychelles and Zambia
28th July 2025
The World Bank has approved the accession of five countries - Angola, Burundi, Malawi, Seychelles, and Zambia - under Phase 2 of the Regional Emergency Preparedness and Access to Inclusive Recovery (REPAIR) programme. This widens the programme’s geographical reach, boosting its ability to enhance the resilience of vulnerable populations in Eastern ... Read the full article
ARC’s Board appoints David Maslo as interim CEO
13th June 2025
The Board of African Risk Capacity Ltd (ARC) has announced the appointment of David Maslo as interim CEO, effective 16th June 2025. Maslo brings a strong combination of actuarial expertise and policy insight to this role. He returns to ARC Ltd after serving as Chief Risk Management Officer at the Caribbean Catastrophe ... Read the full article
ARC and Klapton Re sign agreement to expand climate insurance across Africa
28th April 2025
ARC Ltd and Klapton Re have signed a Memorandum of Understanding (MoU) to establish a new partnership aimed at strengthening climate risk protection across Africa. Under the MoU, the two firms will reportedly co-develop and roll out new insurance products tailored to the needs of farmers and low-income families, enabling them ... Read the full article
Parametric risk pools secure €4.7m grant to enhance climate resilience collaboration
16th April 2025
Four Regional Risk Pools have signed a joint grant agreement with the Global Shield Solutions Platform (GSSP) for €4.7 million to put shared commitments into action. Signed by the African Risk Capacity Limited (ARC Ltd.), CCRIF SPC (the Catastrophe Risk Insurance Facility of the Caribbean and Central America), the Pacific Catastrophe ... Read the full article
Norway provides $4.5m to ARC’s SACPIP-Africa to strengthen climate resilience
16th December 2024
Norway, through the Norwegian Agency for Development Cooperation, has provided NOK 50 million (approximately $4.5 million) to the African Risk Capacity Limited’s (ARC Ltd) Supporting Adaptation Capacity Through Increased Parametric Insurance Penetration in Africa (SACPIP-Africa) initiative. The partnership was formalised during a signing ceremony at the CARICOM Pavilion at COP29 on ... Read the full article
NDF supports ARC as lead capacity provider for parametric drought insurance for UN food program
1st November 2024
The Natural Disaster Fund (NDF), managed by Global Parametrics, is playing a crucial role in supporting food security in drought-prone African countries by supporting African Risk Capacity Ltd. (ARC) with risk capacity for the UN World Food Program (WFP). In the Central Sahel region of Burkina Faso, Mali, and Niger, annual ... Read the full article
Gallagher Re and ARC unveil parametric reinsurance product for drought in the Sahel
30th October 2024
Gallagher Re and African Risk Capacity Ltd (ARC Ltd) have developed a new parametric reinsurance product for the UN World Food Programme (WFP) aimed at providing timely financial responses to populations affected by drought and food insecurity in the Sahel region. Quantifying the impact of climate and weather on crops and ... Read the full article
Ghana secures first sovereign drought insurance policy from ARC
18th October 2024
The Government of Ghana has purchased its first sovereign drought insurance policy, marking a significant step toward protecting vulnerable communities and the agricultural sector from drought. Coordinated by the Global Shield Secretariat, this policy was issued by African Risk Capacity (ARC) Ltd. and funded with $1 million from KfW Development Bank ... Read the full article
BOAD to use parametric insurance to cover sovereign loan portfolios
15th October 2024
The West African Development Bank (BOAD) has launched the "Shock Resilient Loans" program under its sovereign loan portfolio, covered by parametric insurance against natural and health disasters, supported by Munich Re. The project’s pilot phase covers Benin, Côte d’Ivoire, Senegal and Togo, a loan portfolio in these countries totalling over USD350 ... Read the full article
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